Kraken Launches xStocks Vault for Tokenized Equity Yield

Kraken has launched onchain yield vaults that enable eligible customers to earn returns on tokenized stocks and ETF assets.

The exchange's xStocks vaults will lend deposited assets through decentralized finance (DeFi) protocols, distributing the resulting yield to users in the form of additional xStocks.

Kraken stated that the first xStocks vaults support tokenized versions of the SPDR S&P 500 ETF (SPYx), the Invesco QQQ ETF (QQQx), and Nvidia (NVDAx).

The exchange emphasized that yield is paid in the deposited tokens, and withdrawals are processed within three days.