Kraken Exchange debuts Protected Strategies for USDC yields with Firelight coverage

Kraken Exchange debuts Protected Strategies for USDC yields with Firelight coverage
Kraken launches USDC Protected Strategies

Kraken Exchange has introduced a new offering allowing users to earn up to 4.5 percent annual percentage yield (APY) on USDC, with up to 100,000 dollars of deposits potentially eligible for built in protection against events such as smart contract exploits, according to Firelight’s terms.

The new Protected Strategies feature represents a step to attract users seeking higher yield on stablecoin holdings while mitigating some of the key risks associated with decentralized finance platforms.

Earlier this year, Kraken Exchange launched the Kraken Card, providing up to 2 percent cashback in Bitcoin and support for over 600 cryptocurrencies. The exchange also received full regulatory approval in Dubai to operate dirham-funded crypto services. These developments mark ongoing efforts by the company to expand its product suite and global reach.

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