Kraken launches Bitcoin Vault for BTC yield generation through DeFi strategies
By
Will Canny
A baker's-dozen of insight crammed into one ring.
Summary
Kraken has launched a Bitcoin Vault product within its Kraken Earn platform, allowing users to earn BTC-denominated rewards without selling their bitcoin or actively managing DeFi strategies. The product is powered by DeFi infrastructure provider Veda and operated by Sentora, targeting long-term bitcoin holders seeking passive income while maintaining exposure to bitcoin's price.
Key quotes
· 3 pulledThe Bitcoin Vault product within Kraken Earn allows users to win rewards denominated in bitcoin while maintaining exposure to BTC's price.
It is aimed at long-term holders looking for passive income opportunities tied to assets they already plan to keep over time, Kraken said in the Wednesday press release.
The new offering is powered by DeFi infrastructure provider Veda and operated by Sentora.
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