Kraken Offers Up to 6 Percent APY on Stablecoin Deposits

Kraken Exchange is introducing a fixed annual percentage yield (APY) of up to 6 percent on cash and stablecoin deposits for users who commit to an 18-month term. The initiative, available in eligible regions, allows users to lock in their chosen rate for periods of 3, 6, 12, or 18 months, with the top rate of 6 percent APY reserved for the longest allocation.

Once customers select a term and rate, that rate is guaranteed for the duration of the commitment. The offering underscores growing competition among crypto platforms seeking to attract depositors in the current market environment, with stability and guaranteed returns as key features.

Kraken Exchange stated that users can choose from various terms, including 3, 6, 12, or 18 months, each with a corresponding APY. The longest term of 18 months offers the highest rate of up to 6 percent APY.