Kraken has launched xStocks Vaults, allowing eligible users to earn onchain yield on tokenized exposure to the S&P 500, the Nasdaq-100 and NVIDIA while retaining their holdings. Users can deposit SPYx, QQQx or NVDAx and receive up to 2% APY in the same xStock they deposited.

The vaults use onchain lending strategies powered by Veda and Sentora. Kraken says rewards accrue continuously and are paid in kind, meaning a user who deposits SPYx receives additional SPYx rather than cash or another cryptocurrency. The company is promoting yields of up to 2% APY during the initial rollout.

Kraken announced the launch on X on September 14, 2026:

Your xStocks can now earn rewards. @xStocksFi Vaults are live on Kraken. Holding xStocks of the S\u0026P500, Nasdaq-100, or NVIDIA? Deposit in a vault and earn up to 2% APY, while you stay fully invested. Explore Vaults → pic.twitter.com/mSxoTyoMXu — Kraken (@krakenfx) September 14, 2026

Three Tokenized Assets Available

The new vaults initially support three assets. SPYx represents the S&P 500, QQQx represents the Nasdaq-100, and NVDAx is a token-based representation of NVIDIA. Eligible users can allocate these investments directly through Kraken or Kraken Pro.

After deposit, the vaults place the assets into onchain lending markets to generate additional rewards without requiring users to sell or otherwise give up their xStock exposure. Kraken says the deposited xStocks are used in onchain lending strategies, with markets such as Kamino on Solana involved in the process. The resulting yield is converted back into the relevant xStock and added to the vault balance.

The assets are held in self-custodial wallets, and users can track their allocations onchain, according to Kraken. The company says the arrangement removes some of the complexity typically associated with DeFi by eliminating the need for manual transfers or multiple external applications.

Veda and Sentora Provide the Vault Infrastructure

Kraken DeFi Earn launched earlier this year. Kraken says its DeFi Earn products have since recorded more than $800 million in deposits.

Veda provides the vault stack for the xStocks offering, while Sentora handles strategy design and risk management. The structure brings an onchain lending model commonly used in DeFi to tokenized stocks and exchange-traded funds. As a result, the offering combines tokenized market exposure with a separate vault and lending layer, rather than simply holding the xStocks in an account.

Withdrawals Can Take Up to Three Days

Users can request withdrawals from Kraken at any time. However, returned stocks may take up to three days to appear in the user’s Kraken balance, establishing a minimum return period of three days.

The yield is not guaranteed. Returns are tied to onchain lending activity, and rates may fluctuate. Kraken also identifies market risk, liquidity risk, smart-contract risk and other risks associated with DeFi banking and onchain infrastructure.

xStocks Vaults are available to eligible Kraken clients in the European Economic Area and other supported markets. The service is not available in the United States, the United Kingdom, Canada, Australia or the UAE.

The launch gives tokenized-equity investors another way to use their holdings beyond simply holding or trading the tokens, while the variable yield, lending strategy and withdrawal timing are factors users will need to monitor.

Source: CryptoNinjas