Kraken Partnership Drives Veda Deposits Past $600 Million
Veda, an on-chain vault infrastructure startup, has seen its deposits through Kraken's DeFi Earn product surpass $600 million. This figure represents a significant increase from June, when the collaboration had already reached $400 million in deposits across 65,000 users.
The partnership between Veda and Kraken has been instrumental in driving growth, with CEO Sun Raghupathi attributing the success to surging demand for non-custodial yield products. The user count has also climbed past 80,000, a notable jump from the 65,000 reported just two months earlier.
The Kraken-Veda partnership initially launched with stablecoin-focused vaults using Veda's BoringVault framework, which operates on Ethereum and Ink without requiring users to move their funds. The expansion to include Bitcoin Earn vaults in May 2026 proved to be a game-changer, with the single product surpassing $100 million in deposits shortly after going live.