Kraken has expanded its tokenized-asset push by launching “xStocks” onchain yield vaults for select tokenized equities and ETFs. The service is designed to let eligible clients lend those tokenized holdings through decentralized finance (DeFi) protocols in order to generate yield, with returns paid in the deposited assets.

In a Monday announcement, Kraken said the vaults currently support tokenized versions of the SPDR S&P 500 ETF (SPYx), Invesco QQQ ETF (QQQx), and Nvidia (NVDAx). Clients deposit xStocks into the vaults, earn yield generated from onchain lending, and then submit withdrawal requests that Kraken processes within three days.

Key takeaways

• Kraken’s new xStocks vaults generate yield by lending tokenized stocks and ETFs through DeFi markets.
• Yield is paid in the deposited xStocks, and withdrawals are handled within three days.
• The vaults build on the same infrastructure as Kraken DeFi Earn, which reported more than $800 million in deposits since its January launch.
• Supported tokenized products include SPYx, QQQx, and NVDAx, but the service excludes several major jurisdictions including the U.S. and U.K.
• Veda powers the vaults, while Sentora designs and manages the lending strategies and sets exposure limits.

How Kraken’s xStocks vaults are structured

Kraken’s announcement frames xStocks as an “onchain yield vault” for tokenized equities and ETFs—meaning the underlying assets exist in tokenized form on public infrastructure, and the vault seeks to put those tokens to work via DeFi lending.

The company said yield is produced by lending the deposited xStocks through onchain markets. Instead of distributing yield as a separate token, Kraken pays it back to clients in the deposited xStocks themselves. That design choice matters for investors who want their position to remain denominated in the tokenized equity/ETF wrapper rather than receiving interest in a different asset class.

Operationally, Kraken noted that withdrawal requests are processed within three days. For traders and yield-focused users, the speed and predictability of exits are often just as important as the yield rate itself—particularly when liquidity conditions in DeFi lending markets can change.

Built on Kraken DeFi Earn, with Veda and Sentora in the mix

Kraken said the xStocks vaults use the same infrastructure as Kraken DeFi Earn, a service that launched in January. The company reported that DeFi Earn has since attracted more than $800 million in deposits, underscoring that Kraken is treating DeFi yield distribution as a core capability rather than a niche experiment.

For the xStocks vaults specifically, Kraken said the offering is powered by Veda. Sentora, according to the announcement, is responsible for designing and managing the lending strategies used to generate yield.

Kraken also described how risk controls are handled inside those strategies. It said Sentora lends the assets through DeFi markets—citing Kamino on Solana as an example—and that exposure limits and monitoring are based on collateral, liquidity, and oracle conditions. In practice, those components are central to how DeFi lending systems attempt to manage liquidation risk and ensure that collateral valuations and available liquidity remain coherent with onchain data.

Regulatory footprint: where xStocks is available

While Kraken is rolling out the vaults for “select” tokenized products, access is tied to geography. Kraken said xStocks vaults are available to eligible clients in the European Economic Area and other markets, but are excluded in the United States, United Kingdom, Canada, Australia, and the United Arab Emirates.

For participants outside the supported regions, this restriction limits immediate access and may affect how quickly tokenized equity yield products can scale globally. It also highlights the practical reality that tokenized securities and their related yield mechanisms face compliance requirements that differ by jurisdiction.

Tokenized equities keep accelerating—Kraken’s move lands in a bigger trend

Kraken’s xStocks vaults arrive during a broader push toward tokenized equities and ETFs. According to RWA.xyz data cited by Kraken, the distributed value of tokenized stocks and ETFs has risen to about $2.84 billion—up from roughly $540 million a year earlier.

The scale-up implied by that jump helps explain why exchange-led yield products are gaining traction: as more assets become tokenized, there is a larger universe of holdings that can be used in DeFi strategies, even if only a subset is eligible for retail or institutional lending depending on local regulations.

At the same time, the asymmetry in access—supported markets versus excluded countries—suggests that tokenized equities may develop in uneven waves, with product availability tracking regulatory clarity. Investors watching this space may want to pay attention not just to new tokenized listings, but also to how quickly yield wrappers like xStocks can expand beyond their initial geographic boundaries.

What to watch next is whether Kraken broadens the list of supported tokenized equities and ETFs, and how quickly it can add more DeFi markets or adjust its lending strategy parameters as DeFi liquidity and onchain oracle conditions evolve.

Crypto exchange Kraken has launched onchain yield vaults for select tokenized stocks and ETFs, allowing clients to earn returns by lending the assets through decentralized finance protocols, according to a Monday announcement.

The new xStocks vaults support tokenized versions of the SPDR S&P 500 ETF (SPYx), Invesco QQQ ETF (QQQx) and Nvidia (NVDAx), with yield generated by lending the assets through onchain markets. Yield is paid in the deposited xStocks, while withdrawal requests are processed within three days.

The vaults use the same infrastructure as Kraken DeFi Earn, which launched in January and has since attracted more than $800 million in deposits, according to the company.

The xStocks vaults are powered by Veda, with Sentora designing and managing the lending strategies used to generate yield. Assets are lent through DeFi markets such as Kamino on Solana, with Sentora setting exposure limits and monitoring collateral, liquidity and oracle conditions.

The vaults are available to eligible Kraken clients in the European Economic Area and other markets, but are excluded in the United States, United Kingdom, Canada, Australia and the United Arab Emirates.

Kraken’s launch comes amid rapid growth in tokenized equities. The distributed value of tokenized stocks and ETFs has climbed to about $2.84 billion, up from roughly $540 million a year ago, according to RWA.xyz data.

Tokenized equities. Source: RWA.xyz

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Threat actors behind a reported Revolut customer-data leak have begun sharing stolen personal information online and say they will publish additional details each day until the company “pays,” according to statements circulated on Telegram and an X post by International Cyber Digest. The materials reportedly include facial-verification images and scanned identity documents, raising concerns about identity theft and fraud risk.

Revolut previously told customers that the exposed dataset includes full names, dates of birth, occupation, contact information, account statements, and complete transaction histories—along with records of Bitcoin transactions—following what the company described as a “sophisticated external impersonation scam.” Revolut also said its systems and customer funds were unaffected and that the breach involved a “limited number” of customers.

Key takeaways

• Attackers say they will release more Revolut customer data daily until “revolut pays,” according to Telegram messages discussed in social posts.
• Reportedly exposed items include selfies and copies of identity documents, which could materially increase identity theft and account-takeover risks.
• Revolut states the leak stems from an external impersonation scam using a legitimate government-domain email address and says customer funds and systems were unaffected.
• Customers mentioned in the leaked information include at least one Revolut user contacted by the company, based on confirmation provided to Cointelegraph.

Leak escalates with daily release threats

International Cyber Digest, in an X post shared on Sunday, said the newly leaked materials include selfies and identity documents belonging to tennis player Alexander Shevchenko and Felix Römer, CEO of online crypto casino Gamdom. The same X post points to Telegram messages in which the attackers vowed to keep releasing additional data every day until “revolut pays.”

Such “data ransom” behavior—where perpetrators threaten incremental public disclosure—can heighten pressure on affected individuals and complicate mitigation efforts, since victims may face a moving target as new documents and personal details become available.

What Revolut says was exposed

In its earlier customer communication, Revolut said the compromised information included both identity and financial records. The company reported that the leak covered personal details (including full name, date of birth, occupation, and contact information), as well as account statements and full transaction histories, including entries related to Bitcoin transactions.

Revolut attributed the incident to a “sophisticated external impersonation scam,” in which an attacker used an email address from a legitimate government agency domain to submit fraudulent requests for information. Revolut also emphasized that the breach affected a “limited number” of customers and that its systems and customer funds were not impacted.

While Revolut’s characterization centers on information-access methods rather than internal system compromise, the scale and sensitivity of the data described—particularly identity verification materials—still make the impact significant from a cybersecurity and personal-safety perspective.

Customer confirmation adds credibility to the alleged breach

Cointelegraph reported that Römer, one of the customers whose details appear in the leak, told the publication that the attacker-provided information appears to originate from Revolut. He also confirmed he was among the customers contacted by Revolut on Friday.

Römer’s confirmation matters because it connects the publicly shared documents and images to a real individual who says Revolut identified him as affected. For investors and builders in the crypto and fintech ecosystem, that linkage underscores how customer onboarding, identity verification, and account reporting workflows can become high-value targets—even when the underlying issue is attributed to impersonation rather than malware or on-chain theft.

Aside from its earlier customer statement, Revolut did not provide additional comment beyond what it told customers previously.

Why the exposed identity materials are a serious risk

According to the reporting around the leak, the disclosed package includes facial-verification images and scanned identity documents. From a threat-model standpoint, this is particularly concerning because such material can be used to:

• Support identity theft, including attempts to open or take over accounts elsewhere using stolen documentation.
• Enable fraud against services that rely on document checks or selfie-based verification.
• Increase the plausibility of social engineering by giving attackers accurate personal context.

Even if Revolut’s systems and funds were not compromised, the presence of transaction history and identity verification data can expose customers to additional downstream risks, such as targeted phishing, consent-manipulation scams, and attempts to correlate personal data with financial activity.

For crypto users in particular, leaked transaction histories can also make customers easier to profile, especially where attackers seek to identify spend patterns or platform usage. While not every threat directly targets crypto wallets, the broader ecosystem of identity and banking-style verification often intersects with crypto on-ramp and custody services.

Readers should watch closely for whether additional information is indeed released on a daily cadence, and whether Revolut updates its guidance to customers as more materials appear online. The key uncertainty remains the full scope of the leak and whether any further remediation steps—such as expanded alerts or changes to verification and data-access processes—will follow.