Kraken has expanded its institutional lending business through a new Maple-backed financing facility built around a bankruptcy-remote SPV.
Summary
- Kraken and Maple launched a USDC-funded SPV facility for institutional crypto-backed loans.
- Maple will provide senior financing while Kraken retains exposure and services the loans.
- Tokenized credit has grown past $6.2 billion, with Bernstein seeing a $4 trillion market.
According to a joint June 24 announcement, crypto exchange Kraken and on-chain asset manager Maple have launched an institutional warehouse financing facility for crypto-backed loans, bringing a lending structure commonly used in traditional credit…
