Kraken’s DeFi Earn product has passed 200 million dollars indeposits amid a rising demand for onchain yield that users can access from aregular exchange app. The program lets customers earn dollar-denominatedreturns on their balances without moving funds to external wallets ornavigating DeFi protocols directly.Singapore Summit: Meet the largest APAC brokers you know (and those you still don't!).According to Veda, Kraken DeFi Earn runs on three vaultsprovided by Veda. More than 40,000 users now use these vaults through theKraken app to earn yield on cash and stablecoins. The product converts depositsinto USDC and allocates them into onchain strategies, while users only see asimple earn interface inside Kraken.Kraken Taps Veda’s Multichain Vault InfrastructureVeda’s technology allows the vaults to connect to multipleDeFi protocols and blockchains. This structure aims to unlock higher yieldsthan a single protocol can offer. It also helps Kraken adjust strategies overtime without changing how the product looks or works for users.In earlier DeFi cycles many products relied on rewards orairdrops to attract deposits. Kraken instead leans on its existing user baseand an integrated experience. Users can opt into onchain yield from the sameapp they already use for trading and custody.Veda (also known as Veda Labs or Veda Tech) is the DeFivault infrastructure provider that powers Kraken's DeFi Earn product. Theysupply the underlying technology that manages deposits, strategy execution, andcross-chain operations for all three Kraken DeFi Earn vaults. It provides multichain, multiprotocol vault infrastructurethat enables Kraken to offer DeFi yields without requiring users to interactwith blockchain wallets or manage complex DeFi protocols directly.Read more: Kraken Confirms IPO Filing, but Valuation Dropped 33% in Latest $200M FundingKraken has been rolling out and refining DeFi Earn in theUS, Canada and Europe, offering onchain yields through integrated vaults whilekeeping the user experience inside the familiar Kraken app, and pairing thatwith new security education around scams and safe usage.Enabling Curated DeFi StrategiesThe technology allows Kraken's vaults to operate on the Inkblockchain (Kraken's Ethereum L2) while simultaneously sourcing yield fromprotocols on both Ink and Ethereum. Veda's vaults are programmable andflexible, meaning they can support any blockchain, deposit asset, or DeFiprotocol. This allows vault curators (Chaos Labs and Sentora) toallocate deposits across multiple trusted protocols with precision to generatepassive income for Kraken users. According to Sun Raghupathi, Veda Co-Founder,the partnership enables Kraken to deliver "a seamless experience"while tapping into onchain markets that offer higher variable APYs compared totraditional earning options.Most recently, Kraken has been in the news for its IPO push,gaining direct Federal Reserve payments access as a crypto bank, and continuingto market and expand the DeFi Earn product that your Veda story plugs into. TheIPO filing and Fed master account have sparked fresh scrutiny of how deeply acrypto-native institution should be integrated into core U.S. financialplumbing, but they also strengthen Kraken’s pitch as a regulated, bank-likevenue rather than a pure-play exchange.This article was written by Jared Kirui at www.financemagnates.com.