Earn up to 4.25% APY on USDe with Kraken

If you're holding USD or stablecoins that aren't working hard enough for you, there's a better option available right now on Kraken.

For a limited time, eligible customers can earn up to 4.25% APY on USDe with no lockups. Opt in to Auto Earn and you're all set.

USDe is a synthetic, dollar-denominated asset issued by Ethena. USDe is backed with cryptoassets and corresponding short future positions and derives its relative peg stability from executing delta-neutral hedges against protocol-held backing assets.

We offer a standard 3.5% APY on USDe with a boosted rate of 4.25% APY available for a limited time to eligible Kraken+ subscribers.

A few things worth knowing about how it works:

Converting to USDe on Kraken takes just a few taps. Opt into Auto Earn and your capital starts working right away at up to 4.25% APY with Kraken+.

USDe rewards are available to eligible customers on Kraken and Kraken Pro. Simply opt in to Auto Earn, hold USDe in your Kraken account and rewards will begin accruing immediately.

Geo restrictions apply. Rewards rates are determined and paid out by Kraken in its sole discretion and are subject to change. Due to its partnership with Ethena, Kraken receives an economic benefit with respect to amounts of USDe held on platform. 3.5% promotional APY for all users and 4.25% promotional APY for Kraken+ users until 30/06/26; rates are indicative and may vary. From 30/06/26, the APY changes to our standard variable rate (currently up to 1.75% for all users, up to 3.5% APY with Kraken+). T&Cs apply.