Firelight Adds $30.5 Million of Cover to Kraken USDC Vault
Firelight added $30.5 million of cover to a Kraken USDC vault. Depositors face a $100,000 cap per address for each coverage period, and payouts are handled by Sentora rather than being guaranteed by Kraken. The integration is presented as Firelight’s first major exchange link-up and as a programmatic onchain cover arrangement for Kraken’s USDC vault.
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Users of the Kraken USDC vault notice a new cover layer attached to deposits today, with Firelight’s protection now linked to that vault. The arrangement also includes a per-address cap of $100,000 for each coverage period, and payouts are handled by Sentora rather than Kraken’s own guarantee structure.
In practice, the vault is no longer just a standard earn product; it now has programmatic onchain cover attached to it. What remains in place is the Kraken vault itself, while the protection setup adds a separate layer tied to Firelight’s integration rather than changing the vault into something else.
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Has this happened before?
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|---|---|---|
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| 9 days ago | Samsung Wallet to Add Gasless Sui USDC Transfers Across U.S. Galaxy Devices event | 1 actors in common · 23 news media |
| 9 days ago | Aave v4 on Base draws $4.7 million in Coinbase tokenized stock deposits event | 1 actors in common · 2 news media |
| 9 days ago | Wells Fargo in talks with Kraken parent Payward for crypto trading liquidity event | 1 actors in common · 7 news media |