Kraken, Maple launch $2.1B onchain OTC lending facility

- Institutional borrowers gain access to USDC liquidity on Kraken’s OTC desk via Maple’s onchain warehouse facility - Asset-backed securities structure for real-time transparency and security after 2022 lending collapses 2026-06-25 On June 25, 2026, Cryptopolitan reported that Kraken and Maple Finance unveiled a $2.1 billion onchain warehouse lending facility for institutional crypto borrowers. The new facility enables institutions trading on Kraken’s OTC desk to secure USDC liquidity from Maple’s lender pool and applies a credit model based on traditional securitized markets. This structure brings increased transparency and security to institutional lending, as all loan details and collateral are visible in real time on-chain, thereby introducing protections that were absent from previous crypto lending frameworks. According to Cryptopolitan on June 25, 2026, Maple delivers senior financing through a special purpose vehicle, while Kraken Financial—a regulated custodian—manages collateral holdings. In addition, Zaria is designated as the administrative agent overseeing loan operations. Institutional borrowers must submit loan requests of at least $500,000 and complete professional-level verification on Kraken to utilize the facility, and lenders gain exposure to positions collateralized by Bitcoin (BTC) and Ethereum (ETH). All transactions are recorded on-chain, further enhancing transparency for participants. Industry observers cited by Cryptopolitan see this launch as a key advance for institutional crypto credit, especially as the sector recovers from 2022’s lending firm collapses, including Celsius, BlockFi, and Voyager. The onchain warehouse structure directly addresses the transparency and trust issues that fueled previous failures and also marks a milestone in integrating asset-backed securities mechanisms into digital assets. Cryptopolitan reported that Maple currently manages around $2.1 billion in total value locked and has originated more than $17 billion in loans. According to market data referenced by Cryptopolitan on June 25, 2026, at 15:09 UTC, USDC trades at $1 with a -0.014% change, while Maple Finance (SYRUP) trades at $0.12, down 4.948%.