Kraken Launches US Crypto Borrowing With Up To 3x Buying Power
Kraken launched Kraken Borrow US for eligible customers in 48 states, adding a borrowing product that lets users borrow against supported assets and expand buying power. The product uses collateral and still carries interest and liquidation risk, and automatic sales can occur if a position deteriorates.
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Users eligible for Kraken Borrow US are the people who will notice this first, because the product is live in 48 states and can increase buying power against supported assets. That means borrowing is now available in a form tied directly to collateral, with automatic sales possible if a position deteriorates. (per bitcoinist.com)
In practice, this adds a borrowing option that did not exist in the same way before for these users, while keeping the collateral link and liquidation mechanics in place. The product also keeps the absence of a fixed repayment deadline and minimum payment, so the basic borrowing structure remains open-ended even with the new launch.
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