Kraken launches Bitcoin yield product "Bitcoin Vault": integrates Aave and Morpho to let BTC holders earn DeFi rewards

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Good news for long-term Bitcoin holders! Veteran cryptocurrency exchange Kraken has announced the launch of a brand-new product, "Bitcoin Vault," on its Earn platform. Through a partnership with DeFi infrastructure provider Veda, Kraken eliminates cumbersome on-chain operations for users, automatically allocating BTC to top decentralized lending protocols such as Aave and Morpho to earn yield. (Background: Crypto IPO freeze: Consensys, Ledger, and Kraken all halt listing plans) (Context: Kraken's parent company Payward lays off 150 employees to streamline structure! Simultaneously seeking new funding at a "$20 billion valuation" in preparation for IPO) For investors who want to hold Bitcoin (BTC) long-term while also craving passive income, veteran U.S. cryptocurrency exchange Kraken has delivered its latest solution. In a press release issued Wednesday, Kraken announced the official launch of a new product called "Bitcoin Vault" within its wealth management section, Kraken Earn. The product allows users to maintain Bitcoin price exposure while earning BTC-denominated rewards by participating in decentralized finance (DeFi) strategies. Painless DeFi Participation: Automated Allocation to Top Lending Protocols For the average user, directly participating in DeFi typically comes with a very high learning curve, including managing private keys, bridging assets across chains, and manually transferring funds between different lending or liquidity platforms. The emergence of Bitcoin Vault is precisely aimed at dramatically simplifying these operational complexities. According to the announcement, this new service is technically powered by DeFi infrastructure provider Veda and operated by Sentora. Users' assets will be automatically allocated across multiple mature and well-known on-chain lending and yield protocols, with the currently supported list including: - Aave - Morpho - Tydro John Zettler, General Manager of Kraken Payward Services and Head of Earn Products, stated: "Many Bitcoin holders on Kraken have explicitly told us that they want a simple, secure way to earn yield on the Bitcoin they already intend to hold long-term. Bitcoin Vault was built precisely to satisfy that mindset." Bidding Farewell to the CeFi Shadow, Embracing Transparent On-Chain Infrastructure The launch of this product also reflects a major strategic shift in cryptocurrency exchanges' wealth management offerings. During the market downturn of 2022, centralized crypto lending products (CeFi) characterized by opaque operations suffered large-scale collapses and a wave of bankruptcies. Now, in order to win back market trust, exchanges are actively repositioning their wealth management products around transparent on-chain infrastructure and over-collateralized lending markets. Kraken noted that Bitcoin Vault has been seamlessly integrated into both the Kraken and Krak applications, aiming not only to serve existing users but also to attract external Bitcoin holders seeking to consolidate their assets on a major exchange while earning additional yield. In fact, market demand for this type of hybrid wealth management service has been very strong. Kraken revealed that since launching its broader DeFi Earn service this past January, its assets under management (AUM) have successfully surpassed $240 million through organic growth, without relying on any token incentives whatsoever. Currently, Bitcoin Vault has officially gone live and is open for use within compliant jurisdictions.

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