Kraken Launches Onchain Yield Vaults for Tokenized Stocks and ETFs
- Kraken has introduced xStocks vaults allowing clients to earn returns on tokenized stocks and ETFs.
- Supported assets include SPDR S&P 500 ETF (SPYx), Invesco QQQ ETF (QQQx), and Nvidia (NVDAx).
- Yield is generated through lending in DeFi markets, with deposits exceeding $800 million since the launch of Kraken DeFi Earn.
- Withdrawal requests are processed within three days, and yield is paid in deposited xStocks.
- The vaults are available to eligible clients in the European Economic Area but not in the U.S., U.K., Canada, Australia, or UAE.
- The market for tokenized equities has surged to approximately $2.84 billion from $540 million last year.
Kraken’s new offering taps into the growing demand for tokenized equities, which have seen significant growth over the past year. The xStocks vaults leverage established DeFi protocols to provide users with competitive yields on their investments.
With a total value increase from $540 million to $2.84 billion in tokenized equities, Kraken’s initiative reflects a broader trend towards decentralized finance solutions.(Source)
