Kraken launches "DeFi Earn" service in the United States, European Union, and Canada

According to The Block, Kraken has launched the "DeFi Earn" service in the United States, the European Union, and Canada, aimed at making it easier for centralized exchange users to access DeFi earning opportunities. This product will offer on-chain earning opportunities while maintaining the "simplicity and security" that centralized exchanges are known for.

Kraken's DeFi Earn will leverage the support of treasury infrastructure provider Veda to drive this new product. Risk management companies Chaos Labs and Sentora will also operate the first three USDC treasuries, allocating funds to on-chain protocols such as Aave, Morpho, Sky, and Tydro, which will provide floating yields "derived from the real market demand of borrower payments."