Kraken Introduces xStocks Vaults with Up to 2% APY on Tokenized Stocks

Kraken has launched xStocks Vaults, a new feature that allows users to earn up to 2% APY on tokenized stocks and ETFs.

The vaults provide onchain lending strategies powered by Veda and Sentora, which enables users to withdraw their funds at any time but with a minimum return period of three days.

The feature is available for three assets: SPYx, representing the S&P-500; QQQx, the Nasdaq-100; and NVDAx, a token-based representation of NVIDIA.

Kraken users can deposit these tokens into a vault and receive additional rewards without reducing their asset holdings. The yield is paid in-kind, meaning that users will receive more of the same token rather than a separate cryptocurrency or cash reward.