Kraken launches Bitcoin on-chain yield product Bitcoin Vault

According to CoinDesk, the cryptocurrency exchange platform Kraken announced the launch of the Bitcoin Vault product, allowing users to maintain exposure to Bitcoin prices while earning BTC-denominated yields through DeFi strategies. This product is now available on Kraken Earn.

Kraken stated that Bitcoin Vault is primarily aimed at long-term Bitcoin holders, enabling users to automatically participate in on-chain yield strategies through the platform without having to operate complex DeFi protocols themselves.