Kraken Launches Tokenized Stock DeFi Vault for Yield Generation

Kraken has introduced "xStocks," an on-chain yield vault service that allows investors to earn DeFi yields on tokenized stocks and ETFs. Built on Kraken DeFi Earn infrastructure and powered by the Veda protocol, the service utilizes lending strategies managed by Sentora. Assets are lent to decentralized finance markets such as Kamino on the Solana network, with yields distributed to users in the form of additional xStocks. Initial supported assets include Invesco QQQ ETF (QQQx), SPDR S&P 500 ETF (SPYx), and Nvidia stock (NVDAx). The service is available to eligible customers in the European Economic Area and other applicable regions, excluding the U.S., U.K., Canada, Australia, and the UAE.