A post by @krakenfx on X.

Kraken introduced Protected Strategies, a USDC yield product offering up to 5.5% APY with coverage of up to $100,000 per user against events such as smart contract exploits. The advertised rate is stated as of November 2026 and is subject to change. The product is aimed at stablecoin holders seeking yield while retaining downside protection on principal. It matters because exchange-based USDC vaults are competing directly with onchain lending and T-bill products on both yield and safety. Watch for whether Kraken publishes the coverage provider and terms, and whether the 5.5% rate holds as stablecoin yields compress.