Carey Olsen advises Kraken on landmark on-chain warehouse facility for digital asset-backed loans

The transaction brings together one of the world’s largest digital asset platforms and a leading on‑chain asset manager, reflecting the continuing convergence of digital assets and more traditional finance structures.

The Carey Olsen team advising on the matter was led by partners Richard Munden and Chris Duncan, with support from counsel Katrina Lindsay, and associates Catriona Severns, Ella Crowley-Burrows and Simon Galante, covering all Cayman Islands and British Virgin Islands ("BVI") aspects of the transaction.

Chris Duncan, head of digital assets and fintech across the Cayman Islands and BVI, commented: "The Kraken–Maple deal is yet another example of the cutting-edge digital assets work the Carey Olsen team is involved in and highlights our expertise in advising on the most complex of matters. It has been a real pleasure to work on another groundbreaking matter with the Kraken team."

Richard Munden, a finance and digital assets partner in the Cayman Islands, commented: "This transaction adopts features from traditional finance structures for a transaction in the on-chain lending space to enhance liquidity and provide structural protections for investors. It is a great example of the innovative transactions our Cayman and BVI finance and digital assets teams work on for our digital assets clients."