Kraken Unveils Onchain Yield Solution for Tokenized Stocks

Kraken has launched xStocks vaults that allow clients to earn onchain yield on tokenized stocks and ETFs. The new product is available for SPYx, QQQx, and NVDAx tokens and can be accessed through the Kraken or Kraken Pro interfaces.

The xStocks vaults use the same infrastructure as Kraken DeFi Earn, which has seen over $800 million in deposits since its launch in January. The vaults are powered by Veda's onchain lending protocols and offer a new way for clients to earn yield on their holdings.

'Every xStocks position sitting untouched is capital not working as hard as it should,' said Darius Tabatabai, Head of Kraken Pro. 'Clients can already earn dividend yield on select xStocks, and our new vaults enable clients to earn additional onchain yield on their holdings.'