Kraken now offers up to 4.5% APY on USDe stablecoin through its Kraken+ Auto Earn feature for US users.
DeFi & Yields ·
Kraken has launched support for Ethena's USDe stablecoin through its Kraken+ Auto Earn feature, offering US users up to 4.5% annual percentage yield on holdings. The integration allows Kraken+ subscribers to earn the stated yield passively on USDe balances without additional steps beyond enrollment in the Auto Earn program. The partnership expands Kraken's stablecoin yield offerings and provides Ethena with distribution through one of the major crypto exchanges.
The mechanics center on Kraken's existing Auto Earn infrastructure, which automatically compounds yield on eligible assets. By adding USDe to this framework, the exchange taps into demand for yield-bearing stablecoin products while Ethena gains access to Kraken's user base. The 4.5% APY appears fixed for the US market, though no details were disclosed about minimum balance thresholds, lock-up periods, or terms that might affect real returns.
It remains unclear whether this rate applies to all Kraken+ tiers, how long the offer will remain active, or whether the yield is guaranteed or subject to market conditions. The announcement does not specify technical details around settlement frequency or withdrawal flexibility.