Veda is expanding beyond the infrastructure used to launch onchain yield vaults with a new platform designed to help fintechs operate them as the products grow larger and more complex.
The company launched Veda Console, a unified interface for managing vaults, analyzing performance, monitoring risk and controlling operations across different assets, protocols and blockchains.
The platform is available to existing Veda partners and curators and will be included with new Veda-powered Earn programs, according to an announcement shared with AlexaBlockchain.
The move addresses an emerging problem in embedded finance: launching an onchain Earn product is becoming easier, but managing one across multiple strategies, assets and networks is becoming harder. Veda itself recently mentioned enterprise Earn products as requiring a stack of yield sources, integrations, blockchains, risk controls and transaction infrastructure behind the consumer interface.
Kraken Shows How Quickly Earn Infrastructure Can Scale
Kraken provides Veda’s clearest example of that transition.
The exchange launched DeFi Earn in January using Veda vaults that route customer funds into onchain lending markets. The initial product centered on USDC and offered three vaults with different risk profiles across Ethereum and Kraken’s Ink network.
By June, Kraken’s Veda-powered vaults had surpassed $400 million in deposits from more than 65,000 users, after crossing $100 million in March. Veda’s current Kraken case study puts deposits above $800 million and lifetime vault users above 120,000.
The product has also moved beyond stablecoins. Kraken added Bitcoin Earn in May and in September introduced Veda-powered vaults for tokenized SPY, QQQ and Nvidia shares on Solana, using Kamino as a liquidity source and Sentora to curate strategies.
That progression — from one asset class to stablecoins, Bitcoin and tokenized equities across several networks — helps explain why operational software is becoming a separate infrastructure category.
Console Adds an Operating Layer Above the Vault
Console gives operators a consolidated view of vault performance, allocations and depositor behavior. Strategists can also simulate allocation changes before signing them, allowing teams to inspect the expected result and transaction trace before capital is moved.
The platform does not independently custody or move customer assets, according to Veda. Operations remain constrained by permissions encoded in its vault contracts. Its underlying infrastructure uses onchain permissions to restrict strategy actions to approved contracts, functions and parameters.
“As embedded Earn gains more traction through Fintechs, neobanks and traditional finance companies, the infrastructure to launch a vault is only one part of what teams need,” CEO and co-founder Sun Raghupathi said. “They also need the tools to understand performance, manage risk, and make informed decisions as their products scale.”
Kraken is already using Console internally.
“The Veda Console has become the daily workspace to be able to understand how Kraken Earn is performing,” Kraken product executive Marcel Ongemach said, adding that the software has helped the exchange track performance and user behavior as the product expanded to three asset types and approached $1 billion in deposits.
Competition Is Moving Beyond Vault Deployment
Veda is not alone in trying to turn DeFi infrastructure into something fintechs can embed behind familiar interfaces.
Morpho has become one of the strongest examples. Coinbase routes customers into Morpho lending vaults curated by Steakhouse Financial. Coinbase said this month that its USDC Earn product had reached nearly $500 million in supply, while Morpho says Coinbase’s two lending vaults now hold more than $500 million.
Morpho’s broader network has also moved deeper into embedded financial infrastructure. It recently launched an Earn Kit for fintechs on Circle’s Arc network, while the protocol reported $13 billion in peak deposits during 2025 and integrations with Coinbase, Crypto.com, Gemini, Bitget and other platforms.
Euler is pursuing a similar model through EulerEarn. Its vault framework lets curators define approved strategies, allocation caps and withdrawal queues, while operators can simulate reallocations before submitting transactions — functions that overlap with part of the operational problem Console is targeting.
Veda’s differentiation is therefore shifting from simply providing vault contracts to providing the control layer around them.
As exchanges, wallets and fintechs increasingly hide DeFi complexity behind conventional Earn products, the competitive battleground is moving toward risk monitoring, analytics, permissions and portfolio operations. Console is Veda’s attempt to make that layer part of the same infrastructure stack that launches the vault in the first place.
Read Also: This is the First U.S.-Chartered Depository Bank to Offer Stablecoin Invoicing
Disclaimer: The information provided on AlexaBlockchain is for informational purposes only and does not constitute financial advice. Read complete disclaimer here.
Be the first to comment