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Kraken has announced a new product designed to give users access to decentralized finance earning opportunities through a simplified interface. The crypto exchange says the launch aims to lower barriers that have limited broader participation in DeFi.
Good to Know
Kraken is rolling out DeFi Earn as a way for users to earn DeFi style returns without navigating complex onchain processes. The exchange positions the product as an alternative for users interested in yield but unwilling to manage wallets, private keys, or multiple protocols.
The company says users can access the service through the same Kraken interface they already use for trading and account management. The process involves depositing assets, converting them into stablecoins, and placing them into vaults that supply liquidity to onchain lending protocols.
He said: “DeFi has always promised more control, yet most people end up overwhelmed by wallet setups, seed phrases, and a maze of onchain steps. That’s why we’re excited to introduce DeFi Earn. It lets you earn up to 8% APY on your cash and stablecoins through the same Kraken experience you already use.”
Kraken emphasized that the system handles the onchain execution automatically, allowing users to earn variable DeFi rewards without direct interaction with smart contracts.
He said: “You deposit. The system handles the onchain actions. You earn competitive DeFi rewards through a straightforward and transparent experience.”
The infrastructure behind DeFi Earn comes from vault provider Veda. Risk managers Chaos Lab and Sentosa oversee the first three vaults offered through the product. Those include the Balanced Yield USDC Vault, Boosted Yield USDC Vault, and Advanced Strategies USDC Vault.
According to Kraken, the risk managers handle asset allocation, liquidity monitoring, and risk controls across the vaults. The goal is to balance yield opportunities with structured oversight as onchain lending conditions shift.
Veda co-founder Sun Raghupathi framed the product as a response to declining returns in traditional finance.
He said: “As traditional places to earn rewards flatten, onchain markets continue to offer higher variable APYs. DeFi Earn highlights market leading rates that come from real lending activity. The rewards are grounded in actual market demand for capital.”
Kraken plans to make DeFi Earn available to users in most US states, with exclusions for New York and Maine. The rollout also includes Canada but excludes users based in the European Economic Area.