Veda reports $600 million in deposits via Kraken partnership

Veda, an onchain vault infrastructure startup, has reported that deposits through its partnership with Kraken’s DeFi Earn product have exceeded $600 million. This represents an increase of approximately $100 million since June, when deposits stood at $400 million. The user base for this specific partnership has also grown from 65,000 to over 80,000 users.

The partnership utilizes Veda’s BoringVault framework, which operates non-custodially on Ethereum and Ink, allowing for strategy adjustments without requiring users to move funds. A significant growth driver was the May 2026 expansion into a Bitcoin Earn vault, which surpassed $100 million in deposits shortly after launch.

As a middleware provider, Veda functions as a white-label engine for larger platforms. While the Kraken integration is a primary enterprise deal, Veda reports $16 billion in lifetime deposits and more than 270,000 total depositors across all products. The company’s current onchain total value locked is approximately $1.35 billion.