Kraken’s DeFi Earn product has surpassed $200 million in deposits amid growing demand for onchain yield that users can access from the regular exchange app. The program allows customers to earn dollar-denominated returns on their balances without transferring funds to external wallets or navigating through DeFi protocols directly.
Singapore Summit: Meet the top APAC brokers you know (and those you don’t know yet!).
According to Veda, Kraken DeFi Earn runs on three vaults provided by Veda. Over 40,000 users are now using these vaults through the Kraken app to earn returns on cash and stablecoins. The product converts deposits into USDC and allocates them to onchain strategies, while users only see a simple earning interface within Kraken.
Veda’s technology allows vaults to connect to multiple DeFi protocols and blockchains. This structure aims to achieve higher returns than a single protocol can offer. It also helps Kraken adjust strategies over time without changing how the product looks or works for users.
In previous DeFi cycles, many products relied on rewards or airdrops to attract deposits. Kraken instead relies on its existing user base and integrated experience. Users can subscribe to onchain fruit
fruit
Return is defined as the profits generated by an investment or security over a certain period of time. This is usually shown in percentage terms and is in the form of interest or dividends received from it. Returns do not include price changes, which distinguishes them from total returns. As such, the yield applies to various stated rates of return on stocks, fixed income instruments such as bonds, and other types of investment products. Returns can be calculated as a ratio or as a percentage.
Return is defined as the profits generated by an investment or security over a certain period of time. This is usually shown in percentage terms and is in the form of interest or dividends received from it. Returns do not include price changes, which distinguishes them from total returns. As such, the yield applies to various stated rates of return on stocks, fixed income instruments such as bonds, and other types of investment products. Returns can be calculated as a ratio or as a percentage.
Read this term From the same app they already use for trading and custody.
Veda (also known as Veda Labs or Veda Tech) is the DeFi vault infrastructure provider that powers Kraken’s DeFi Earn product. They provide the core technology that manages deposits, strategy execution, and cross-chain operations for all three Kraken DeFi Earn vaults.
It provides a multi-chain, multi-protocol infrastructure that enables Kraken to deliver DeFi returns without requiring users to interact with blockchain wallets or manage complex DeFi protocols directly.
Read more: Kraken confirms IPO filing, but valuation drops 33% in recent $200M financing
Kraken has rolled out and optimized DeFi Earn in the US, Canada and Europe, offering onchain returns through integrated vaults while maintaining the user experience within the familiar Kraken app, and coupling that with new security education around fraud and safe usage.
Enabling coordinated DeFi strategies
This technology allows Kraken vaults to operate on the Ink blockchain (Kraken’s Ethereum L2) while simultaneously sourcing revenue from protocols on both Ink and Ethereum. Veda vaults are programmable and flexible, meaning they can support any blockchain, deposit asset, or DeFi protocol.
This allows vault maintainers (Chaos Labs and Sentora) to precisely allocate deposits across multiple trusted protocols to generate passive income for Kraken users. According to Son Raghupathi, co-founder of Veda, the partnership enables Kraken to offer a “seamless experience” while leveraging onchain markets that offer higher variable APYs compared to traditional monetization options.
Recently, Kraken has been in the news for its push to go publicand get direct Federal Reserve Payments
Payments
One of the foundations of means of exchange in the modern world, payment represents the transfer of legal tender or its equivalent from one party in exchange for goods or services to another entity. The payments industry has become one of the pillars of modern commerce, although the players involved and the means of exchange have changed significantly over time. In particular, the party making the payment is referred to as the payer, where the payee reflects the individual or entity receiving the payment. Most common
One of the foundations of means of exchange in the modern world, payment represents the transfer of legal tender or its equivalent from one party in exchange for goods or services to another entity. The payments industry has become one of the pillars of modern commerce, although the players involved and the means of exchange have changed significantly over time. In particular, the party making the payment is referred to as the payer, where the payee reflects the individual or entity receiving the payment. Most common
Read this term Arriving as a crypto bank, and continuing to market and expand the DeFi Earn product that Veda’s story is connected to.
The Fed’s IPO and master account filing has drawn new scrutiny over how deeply the native cryptocurrency institution is integrated into the core U.S. financial plumbing, but it also reinforces Kraken’s pitch as a regulated, bank-like venue rather than a pure-play exchange.
Kraken’s DeFi Earn product has surpassed $200 million in deposits amid growing demand for onchain yield that users can access from the regular exchange app. The program allows customers to earn dollar-denominated returns on their balances without transferring funds to external wallets or navigating through DeFi protocols directly.
Singapore Summit: Meet the top APAC brokers you know (and those you don’t know yet!).
According to Veda, Kraken DeFi Earn runs on three vaults provided by Veda. Over 40,000 users are now using these vaults through the Kraken app to earn returns on cash and stablecoins. The product converts deposits into USDC and allocates them to onchain strategies, while users only see a simple earning interface within Kraken.
Veda’s technology allows vaults to connect to multiple DeFi protocols and blockchains. This structure aims to achieve higher returns than a single protocol can offer. It also helps Kraken adjust strategies over time without changing how the product looks or works for users.
In previous DeFi cycles, many products relied on rewards or airdrops to attract deposits. Kraken instead relies on its existing user base and integrated experience. Users can subscribe to onchain fruit
fruit
Return is defined as the profits generated by an investment or security over a certain period of time. This is usually shown in percentage terms and is in the form of interest or dividends received from it. Returns do not include price changes, which distinguishes them from total returns. As such, the yield applies to various stated rates of return on stocks, fixed income instruments such as bonds, and other types of investment products. Returns can be calculated as a ratio or as a percentage.
Return is defined as the profits generated by an investment or security over a certain period of time. This is usually shown in percentage terms and is in the form of interest or dividends received from it. Returns do not include price changes, which distinguishes them from total returns. As such, the yield applies to various stated rates of return on stocks, fixed income instruments such as bonds, and other types of investment products. Returns can be calculated as a ratio or as a percentage.
Read this term From the same app they already use for trading and custody.
Veda (also known as Veda Labs or Veda Tech) is the DeFi vault infrastructure provider that powers Kraken’s DeFi Earn product. They provide the core technology that manages deposits, strategy execution, and cross-chain operations for all three Kraken DeFi Earn vaults.
It provides a multi-chain, multi-protocol infrastructure that enables Kraken to deliver DeFi returns without requiring users to interact with blockchain wallets or manage complex DeFi protocols directly.
Read more: Kraken confirms IPO filing, but valuation drops 33% in recent $200M financing
Kraken has rolled out and optimized DeFi Earn in the US, Canada and Europe, offering onchain returns through integrated vaults while maintaining the user experience within the familiar Kraken app, and coupling that with new security education around fraud and safe usage.
Enabling coordinated DeFi strategies
This technology allows Kraken vaults to operate on the Ink blockchain (Kraken’s Ethereum L2) while simultaneously sourcing revenue from protocols on both Ink and Ethereum. Veda vaults are programmable and flexible, meaning they can support any blockchain, deposit asset, or DeFi protocol.
This allows vault maintainers (Chaos Labs and Sentora) to precisely allocate deposits across multiple trusted protocols to generate passive income for Kraken users. According to Son Raghupathi, co-founder of Veda, the partnership enables Kraken to offer a “seamless experience” while leveraging onchain markets that offer higher variable APYs compared to traditional monetization options.
Recently, Kraken has been in the news for its push to go publicand get direct Federal Reserve Payments
Payments
One of the foundations of means of exchange in the modern world, payment represents the transfer of legal tender or its equivalent from one party in exchange for goods or services to another entity. The payments industry has become one of the pillars of modern commerce, although the players involved and the means of exchange have changed significantly over time. In particular, the party making the payment is referred to as the payer, where the payee reflects the individual or entity receiving the payment. Most common
One of the foundations of means of exchange in the modern world, payment represents the transfer of legal tender or its equivalent from one party in exchange for goods or services to another entity. The payments industry has become one of the pillars of modern commerce, although the players involved and the means of exchange have changed significantly over time. In particular, the party making the payment is referred to as the payer, where the payee reflects the individual or entity receiving the payment. Most common
Read this term Arriving as a crypto bank, and continuing to market and expand the DeFi Earn product that Veda’s story is connected to.
The Fed’s IPO and master account filing has drawn new scrutiny over how deeply the native cryptocurrency institution is integrated into the core U.S. financial plumbing, but it also reinforces Kraken’s pitch as a regulated, bank-like venue rather than a pure-play exchange.
