Kraken's DeFi Earn, which utilizes Veda vaults to generate stablecoin yield for its customers, has exceeded $30 million in total value locked (TVL). The product is now available on Kraken's main platform, Kraken Pro, and the Krak app.

This development signals a growing trend of centralized exchanges (CEXs) integrating decentralized finance (DeFi) protocols to offer more competitive yield products. By leveraging Veda's on-chain infrastructure built on Ethereum and Injective, Kraken can provide its users with a simplified and accessible way to earn returns from DeFi without the complexities of direct on-chain interaction.

The move allows Kraken to compete with both DeFi protocols and other exchanges by offering compelling yields on stablecoins, a cornerstone of the digital asset economy. It highlights the increasing demand for user-friendly products that bridge the gap between centralized and decentralized financial systems.