Kraken Launches Non-Custodial Bitcoin Yield Product Offering 2.5% Annual Returns
By
@cointelegraph
Hand-rolled, kettle-boiled, baked to perfection. Worth every minute at the bakery.
Summary
Crypto exchange Kraken has launched a non-custodial Bitcoin yield product offering 2.5% annual returns, developed with yield infrastructure provider Veda. The product aims to simplify Bitcoin yield generation by removing the need for wrapping Bitcoin or managing complex crypto wallets. The launch comes amid growing demand from Bitcoin holders for yield products, which have seen limited development due to Bitcoin blockchain constraints. The product attracted $30 million in deposits within the first 10 hours of launch.
Key quotes
· 1 pulledThe offering seeks to remove 'the headaches that come with wrapping Bitcoin, moving assets, or managing a crypto wallet.'
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