Key Highlights
- Developer teams utilizing Privy’s wallet API network can now access Veda’s institutional DeFi vault infrastructure.
- Fintech applications gain streamlined deployment capabilities for onchain yield offerings, eliminating lengthy development cycles.
- Privy’s platform serves over 120 million user accounts spanning more than 2,000 development teams.
- Initial vault offerings will accommodate leading stablecoins through diversified strategies spanning EVM-compatible networks.
- Developer enrollment operates through a waitlist system, with broader platform access scheduled for the following month.
Veda has integrated its institutional-grade DeFi vault platform with Privy, creating a streamlined pathway for fintech developers to incorporate onchain yield capabilities through Privy’s wallet application programming interfaces.
The Block documented that Veda and Privy revealed their collaboration Tuesday during Proof of Talk 2026, hosted at Paris’s Louvre Palace. Privy, the wallet infrastructure provider acquired by Stripe in June of last year, delivers embedded cryptocurrency wallet solutions for financial technology companies and diverse applications. The partnering organizations report that Privy’s ecosystem encompasses 120 million user accounts distributed among 2,000 development teams.
Institutional Vault Technology Enters API Distribution
Veda historically served clients through direct enterprise partnerships, the companies stated. Kraken deployed its vault technology to power Kraken DeFi Earn, while EtherFi utilized the infrastructure for its Liquid offering. These implementations demanded several months of dedicated engineering resources, according to Veda.
Sunand Raghupathi, co-founder and CEO of Veda, explained in an official statement that the Privy partnership delivers startups the identical vault framework employed by major cryptocurrency exchanges. During a conversation with The Block, Raghupathi emphasized that Privy provides Veda with extensive distribution channels throughout the fintech sector.
Diversified Yield Strategies Beyond Traditional Lending
Raghupathi informed The Block that Veda represents the inaugural non-lending yield solution available through Privy’s platform. Previously, Privy facilitated developer connections with lending-focused protocols including Aave, which Raghupathi characterized as straightforward single-asset offerings.
For the initial deployment, Veda will introduce two vault products employing strategies distributed across prominent EVM blockchain ecosystems. These vaults accommodate major stablecoin assets, allowing developers to implement custom fee structures. Veda committed to publishing comprehensive vault specifications and active yield network details within product documentation. Raghupathi disclosed to The Block that the organization is evaluating expansion opportunities within the Solana ecosystem.
According to both companies, stablecoin holdings currently represent 70% of total assets within Privy-connected wallets, rising substantially from 20% recorded one year prior. Raghupathi suggested that platforms managing stablecoin reserves may seek yield-generating products to maintain user balances, attract additional participants, and establish revenue streams.
Veda reported that Kraken DeFi Earn has accumulated over $250 million in user deposits within its first four months of operation. The organization characterized this as the largest enterprise-scale DeFi earn product available.
Security Infrastructure and Regulatory Framework Remain Priority
Raghupathi confirmed to The Block that Veda maintains an unblemished security record regarding major incidents. He noted that operational experience navigating stablecoin depeg events, protocol vulnerabilities, and liquidity challenges has informed the development of robust control systems.
Veda appointed Alberto Cuesta Cañada, co-creator of the ERC-4626 standard, to serve as VP of onchain security. The company also brought aboard TuongVy Le, previously with Anchorage and the Securities and Exchange Commission, as general counsel. Developer platform access currently operates through a waitlist mechanism, with full platform launch targeted for next month.
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