Kraken and Maple launch fully on-chain credit facility for BTC and ETH-backed lending

Kraken and Maple have launched an on-chain warehouse financing facility aimed at bringing traditional structured-credit protections to crypto-backed lending. The facility will be denominated in USDC and is intended to support Kraken’s over-the-counter lending business. It is designed to let institutional clients borrow against BTC and ETH rather than selling their holdings.