Kraken Introduces Fixed Rate Rewards for US Accredited Investors

Kraken, one of the world's longest-standing and most secure crypto platforms, has introduced Fixed Rate Rewards for US accredited investors. The new feature is part of Kraken's Earn product and allows eligible clients to lock a portion of their balance into a fixed-term reward at a fixed annual percentage yield (APY) of up to 7%. This means that clients can choose a term, currently available in 3, 6, 12, or 18 months, and secure a rate that will be locked for the entire duration.

The Fixed Rate Rewards program is designed to provide certainty to investors who hold cash or stablecoins on Kraken. According to John Zettler, Director of Product at Kraken Earn & Trade, 'Many Kraken clients holding cash or stablecoins want the same thing: a clear, fixed-rate yield on that cash.' The program works by allowing clients to choose their term, lock in their rate, earn rewards automatically, and opt-in for auto-renewal to re-lock their balance at maturity.

Fixed Rate Rewards is available on eligible balances of both fiat (USD, EUR) and stablecoin assets (USDT, USDC, and USDG), accessible through the Kraken Consumer and Pro apps. Availability is subject to geographic and eligibility restrictions, with participation limited to accredited investors in the United States.