Kraken announced the launch of xStocks vaults, allowing eligible clients to earn yield on tokenized stocks through decentralized finance protocols. The vaults support SPYx (SPDR S&P 500 ETF), QQQx (Invesco QQQ ETF), and NVDAx (Nvidia). Yield is generated from on-chain lending markets and paid directly in the deposited xStocks, with withdrawal requests processed within three days.
The infrastructure extends Kraken DeFi Earn, which launched in January and has attracted over $800 million in total deposits. Veda handles technical operations while Sentora designs and manages the lending strategies, deploying tokenized assets into various DeFi markets including Kamino on Solana. Sentora sets exposure limits and monitors collateralization levels, liquidity, and oracle feeds.
Access is restricted to eligible Kraken clients in the European Economic Area and select international markets. The service is unavailable to clients in the United States, United Kingdom, Canada, Australia, and the United Arab Emirates.
The launch arrives as the tokenized stock and ETF sector expands. Aggregate distributed value reached approximately $2.84 billion, up from $540 million a year prior, according to RWA.xyz.
