Veda and Krak partner to launch Vaults

Veda is giving Krak app users a new way to earn on their assets with Krak Vaults.

Krak, the global money app from Kraken, lets users in over 160 countries pay friends and family with over 400+ different assets including US dollars, euros, stablecoins, and crypto. 

Within the Krak mobile app, onchain vaults powered by Veda's trusted tech stack now offer competitive rewards of up to 8% on idle balances. The experience is straightforward for users while Veda’s vault infrastructure operates invisibly underneath, leveraging multiple chains and protocols in a seamless solution to bring you the best earning experience in just a few clicks.

To get started with Krak Vaults, navigate to the “Vault” tab and select “Start earning.”  

Choose from the Balanced, Boosted, or Advanced earning strategy to meet your needs. The Balanced vault, curated by Chaos Labs, earns yield with an expected low yield volatility. The Boosted option, also curated by Chaos Labs, optimizes for higher yield. The Advanced strategy vault, curated by Sentora, offers the potential for higher yield by applying leverage while managing core risks. 

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Deposited funds in US dollars or other currencies will be converted to USDC, with no required minimum deposit amount.

Available at launch in over 30+ countries including 48 US states, Canada, and the European Economic Area, Krak Vaults powered by Veda offer near-instant withdrawals on Balanced and Boosted Vaults so you can earn and withdraw anytime. 

You’ll always be able to view your balance, and yield automatically accrues back to your account.  

Veda’s tech puts transparency first, letting you view your APY, overall performance, liquidity, fees, and more, making it easier than ever to watch your money grow.

Tap into the future of money with vaults powered by Veda.

Now available on the Krak app.

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Rewards are variable and not guaranteed; you can lose some or all of your assets. Interacting with on-chain smart contracts involves risks which are further detailed in the terms of service, including technological risk (bugs, exploits, and oracle/MEV/bridge failures), market risk (price volatility, de-pegs, and liquidation where relevant), and operational risk (irreversible transactions, gas fees, network congestion). Kraken and Veda do not control third-party protocols.

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