Kraken Introduces Onchain Yield Vaults for Tokenized Stocks and ETFs
- Kraken has launched xStocks vaults for tokenized versions of SPDR S&P 500 ETF (SPYx), Invesco QQQ ETF (QQQx), and Nvidia (NVDAx).
- Yield is generated by lending assets through DeFi protocols, with returns paid in deposited xStocks.
- Withdrawal requests are processed within three days, and the vaults utilize infrastructure from Kraken’s DeFi Earn program.
- The new vaults are available to eligible clients in the European Economic Area but not in the U.S., U.K., Canada, Australia, or UAE.
- The distributed value of tokenized stocks and ETFs has risen to approximately $2.84 billion from $540 million last year.
This launch reflects Kraken’s commitment to expanding its offerings in the growing market for tokenized equities, which have seen significant growth over the past year.
With more than $800 million in deposits attracted since January, Kraken’s new xStocks vaults aim to enhance yield opportunities for clients holding tokenized assets.(Source)
