Kraken launches DeFi Earn product in US, Europe, and Canada

Kraken has launched a new decentralized finance (DeFi) deposit product called DeFi Earn in Canada, the European Economic Area (EEA), and the U.S., The Block reported. The product offers an annual percentage yield (APY) of up to 8%. Kraken stated that the product will provide users of centralized exchanges with an easier opportunity to generate DeFi yields. The company also noted that while withdrawals are generally processed immediately upon request, temporary delays could occur during periods of low liquidity, a risk distinct from centralized systems.