A New Lending Partner Steps In

KindlyMD has added Kraken as a lending partner after securing a two hundred ten million dollar bitcoin backed loan at an annual interest rate of eight percent. According to the latest regulatory filing, the funds will be used primarily to retire a separate loan previously provided by Antalpha.

The new facility deepens KindlyMD’s use of bitcoin as strategic collateral while giving the company cleaner repayment terms and a more structured agreement.

Why the Company Needed New Financing

The company carries a large balance of bitcoin that has been locked in previous credit arrangements. The transition into a new loan allows KindlyMD to unwind debt exposure and consolidate obligations under a more transparent and regulated lender.

Key reasons for the refinancing include:

• Better alignment of collateral requirements

• Longer maturity profile

• More predictable borrowing costs

• Reduced counterparty uncertainty

Kraken’s involvement provides institutional quality backing and clear collateral rules.

How Kraken Fits Into the Structure

Kraken has become one of the most active institutional bitcoin lenders by offering facilities secured against large, auditable balances of BTC. Loans are typically structured so that bitcoin remains under controlled custody while borrowers draw capital for operating or restructuring purposes.

In this case, Kraken will hold collateral as bitcoin, with margin thresholds that activate if market prices fall materially. The loan requires significant collateral coverage, protecting both sides from sudden market swings.

The Broader Trend Around Bitcoin Secured Loans

A rising number of companies are choosing to borrow against bitcoin rather than sell it directly. This strategy allows them to retain upside exposure while gaining usable liquidity.

This financing model is attractive because:

• Companies avoid triggering taxable disposals

• Bitcoin remains an appreciating treasury asset

• Liquidity arrives instantly without new shareholder dilution

• Debt can be cycled into new productive uses

KindlyMD now joins a growing class of firms using collateralized borrowing to navigate balance sheet needs.

Why the Loan Size Matters

Two hundred ten million dollars is significant for a specialized lender. The size also implies that KindlyMD is holding a substantial bitcoin treasury position, large enough to support the collateralization without liquidating assets.

Loans of this size also tend to involve:

• Institutional custodians

• Daily risk monitoring

• Automated margin rules

• Regulated reporting

These features bring the loan closer to institutional credit mechanics rather than simple crypto lending.

What Comes Next

The next stage likely involves the full retirement of the Antalpha loan facility and updated treasury disclosures. If bitcoin maintains price strength, KindlyMD could restructure again later under lower rates or reduce collateral requirements.

For now, the company gains clearer financing terms, while Kraken strengthens its position as a major provider of collateralized lending for corporate digital asset holders.