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Both let you borrow against your crypto. The Nexo Credit Line has no fixed maturity, so you can repay on your own schedule and draw again as needed.
Terms as of October 2026. Flexline rates are fixed for each loan’s term. Nexo Credit Line rates depend on your Wealth Club tier and LTV and can change.
| Nexo | Kraken | |
|---|---|---|
Annual interest rate | From 0.9% per year at the Signature Tier, with an LTV of 20% or below From 12.9% per year at the Classic Tier Tiers depend on your NEXO Token holdings, and the token’s price is volatile. Source | Fixed APR from 7% to 25% for the full term, depending on the borrowed asset and loan term Sources: Kraken Blog, Kraken Fees |
What sets the rate | Wealth Club tier and LTV. Your rate can change as your tier or LTV changes. | Fixed at origination. Rate, amount, and maturity can't be changed afterward. Source |
Maturity | No fixed maturity. | 2 days to 2 years. Source |
Fees | No origination fee. Interest applies only to the amount you draw. | 0.50% origination fee. Interest applied every 4 hours. Early termination fee of 50% of the remaining interest. Sources: Kraken Fees, Early termination |
Accepted collateral | 30+ crypto assets. | 48 crypto assets and 6 fiat currencies. Source |
Multi-asset collateral | Yes. BTC, ETH, and 30+ other assets in one Credit Line. | Yes. Multi-asset collateral across crypto and fiat. Source |
Changing collateral | Add, remove, or swap collateral without closing the Credit Line. | Collateral stays on Kraken for the duration of the loan. Source |
Maximum LTV | Up to 50% on BTC and ETH. Up to 90% on USDT and USDC. Up to 30% on other supported assets. | Set by per-asset collateral haircuts. Kraken doesn't publish a single maximum LTV. Source |
Loan size | $50 to $2 million per day. Up to $200 million with Nexo Private. | U.S. minimum of 75,000 USDC equivalent (100,000 USDC in Delaware and Minnesota). Maximum depends on available inventory and margin allowance. Sources: Kraken Blog, Flexline FAQ |
Payout | USD to your bank account, or USDT and USDC to your Nexo account. | USDG, USDC, EURC, BTC, ETH, SOL, XRP, or DOGE. Funds can stay on Kraken or be withdrawn to a linked bank account. Sources: Flexline FAQ, Kraken Blog |
Repayment | Anytime, with no fixed dates or minimum installments. | Deducted from your main wallet at maturity. Early termination carries a fee. Source |
If collateral value falls | Margin Call notifications as your LTV rises, then partial automatic repayments from collateral at 83.33% LTV, selling only what's needed. | Margin call and liquidation notices, then collateral can be sold. Source |
U.S. eligibility | No credit check. Availability varies by state. | ECP-qualified Kraken Pro users in 40 states and DC. Not available in CA, CT, MA, MS, MT, ND, NV, NY, PR, SD, or VT. Source |
Nexo has offered crypto-backed credit since 2018, with a <b>$1.7+ billion</b> loan book (global, Q2 2026). Galaxy Research ranks Nexo third among the CeFi lenders it tracks (Q2 2026).¹ Kraken launched Flexline in February 2026 and brought it to the U.S. in June 2026.²
Nexo's Credit Line starts at $50, with no credit check. Availability varies by state. In the U.S., Flexline requires Eligible Contract Participant status, generally $10 million or more in investments, and a 75,000 USDC minimum (100,000 in Delaware and Minnesota).³
Interest applies only to the amount you draw, for the days you use it, with no origination fee and no fixed repayment date. Flexline charges a 0.50% origination fee, and ending a loan early costs half of the remaining interest.⁴