Kraken rolls out ‘DeFi Earn’ in US, EU and Canada tapping yield-bearing Veda vaults

Crypto exchange Kraken has introduced its new DeFi Earn product across Canada, the European Economic Area, and most U.S. states, aiming to bring decentralized finance to mainstream users with centralized exchange simplicity and security. The product offers onchain earning opportunities with APYs up to 8% by leveraging vault infrastructure provider Veda. The initial three USDC vaults will be managed by risk managers Chaos Labs and Sentora, allocating funds to established onchain protocols like Aave and Morpho, with returns derived from genuine market demand paid by borrowers. Kraken emphasized that users will be informed about rates, fees, and risks before depositing, and withdrawals are typically instant. This launch aligns with a broader industry trend of centralized platforms creating user-friendly bridges to DeFi.

(Source：The Block)