Bitcoin Holders Have Been Waiting 15 Years For This
Speakers
John Zettler
— Director of Product, Kraken
Summary
Kraken's John Zettler discusses the launch of a Bitcoin Vault product that enables holders to earn ~2% yield through on-chain DeFi strategies. The conversation covers the mechanics, transparency, and broader trends of institutional adoption and real-world assets moving on-chain, along with a brief discussion on NFTs.
- Kraken launches a Bitcoin Vault allowing holders to earn yield while maintaining Bitcoin exposure.
- The vault wraps BTC to KBTC, borrows stablecoins, and yield farms to generate returns.
- The product is available globally on Kraken's consumer and pro platforms.
- John Zettler emphasizes the transparency and over-collateralization of on-chain DeFi.
- The discussion highlights accelerating institutional adoption via crypto-as-a-service.
- The host and guest touch on the long-term potential of real-world assets on-chain.
- NFTs are discussed as a tool with specific collections like CryptoPunks retaining historical value.
Trade Ideas
Earn 2% yield on Bitcoin via Kraken Vault.
Bitcoin holders can now earn approximately 2% yield on their Bitcoin by depositing into Kraken's Bitcoin Vault. The vault wraps BTC into KBTC (ERC20), uses it as collateral to borrow stablecoins, yield farms those stablecoins, converts the yield back to Bitcoin, and distributes it to users. The process is on-chain, over-collateralized, and transparent, solving the long-standing problem of earning yield on Bitcoin without giving up price exposure.
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Speakers: John Zettler · Tickers: BTC