Veda brings vault stack to Privy's 2,000-plus developer teams

Vault infrastructure provider Veda is making its vaults available to the developer teams building on Privy, the wallet infrastructure company Stripe acquired last June, the two companies said Tuesday. The announcement was made at Proof of Talk 2026 at the Louvre Palace in Paris.

Until now, Veda's vaults reached the market through one-off institutional integrations. Kraken used them to launch Kraken DeFi Earn, and EtherFi used them to build its Liquid product. Each of those took dedicated engineering and months of coordination, the kind of commitment most companies cannot justify. The Privy integration turns that into a standard API call.

"Until now, we didn't have a way to bring our proven vault stack to thousands of startups who want to integrate onchain yield," Sunand Raghupathi, Veda's co-founder and CEO, said in a statement. "Any team building on Privy can now offer their users the same vault infrastructure that the biggest platforms in crypto use every day."

Privy builds embedded crypto wallets that let fintechs and other businesses spin up easy-to-use wallets for their customers without seed phrases or external apps. The company now powers more than 120 million accounts across over 2,000 developer teams.

In an interview ahead of the announcement, Raghupathi described it as close to a monopoly in its category, calling it "the largest embedded wallet solution in the world." That reach is the point for Veda. "This is like a match made in heaven, because what Privy gives Veda access to is distribution with some of the largest fintechs," Raghupathi told The Block.

Beyond lending

The integration makes Veda the first yield provider on Privy that is not built around lending, Raghupathi said in the interview. Privy had previously connected lending protocols like Aave, which he characterized as simple, single-asset solutions. Veda's two launch vaults instead use diversified, multi-protocol strategies across leading EVM ecosystems, with developers free to set their own fee on top.

The vaults support major stablecoins, and Veda plans to add more allocation pathways, including top lending protocols, after general availability. The company said specific configurations and live yield networks will be published in its product documentation at launch. Raghupathi told The Block that the firm is eyeing yield opportunities across EVM chains and also Solana.

Raghupathi argued that yield is becoming a default expectation for any company holding stablecoins, for three reasons: retaining balances, attracting new users, and taking a cut of the yield as a new revenue stream. "Anyone who has stablecoins on their platform, which will eventually be every fintech on the planet, will eventually integrate yield," he said.

The shift is already visible inside Privy's own footprint. Stablecoins now make up 70% of assets held in Privy-powered wallets, up from 20% a year ago, according to the companies.

Security and regulation

Amid a concerning uptick of hacks across DeFi, Veda notes that it has never had a major security incident, and Raghupathi said that record comes down to time in the market rather than any single safeguard. "Our core team has been building in this space for almost five years now, and there are some lessons that you can only learn with experience at scale," he said, citing stablecoin depegs, protocol exploits, and liquidity crunches the team has worked through.

He did not downplay the stakes. "If I said anything other than security is my top priority, I think it would just destroy my credibility," he said, framing it as a question of survival for the broader category. "The setup for crypto is unbelievable right now... and this feels inevitable, except if we ruin it by taking shortcuts, not taking security seriously, and just destroying the credibility of the industry."

Veda recently hired Alberto Cuesta Cañada, a co-author of the ERC-4626 tokenized vault standard who previously led security at Optimism, as its VP of onchain security,

Wait, I need to add some light crypto-native humor per the rules. Let me sprinkle a bit more naturally.

In para 2, I can add a quip about integration timelines. In para 5, maybe a subtle one about "match made in heaven." In para 9, the 70% stablecoin stat.

Let me revise:

Para 2: "Each of those took dedicated engineering and months of coordination, the kind of commitment most companies cannot justify. The Privy integration turns that into a standard API call, sparing future integrators the usual six months of integration Slack channels and bridgeless bridging debates."

Hmm, that's forcing it. Let me try: "Each of those took dedicated engineering and months of coordination, the kind of commitment most companies cannot justify. The Privy integration turns that into a standard API call, which is the DeFi equivalent of skipping the line."

That's a bit better.

Para 9: "Stablecoins now make up 70% of assets held in Privy-powered wallets, up from 20% a year ago, according to the companies. The other 30% is presumably memecoins and one token with no Twitter presence."

That's forced. Let me just keep it subtle. Maybe: "Stablecoins now make up 70% of assets held in Privy-powered wallets, up from 20% a year ago, according to the companies. Apparently the rotation worked."

Or just leave it. The article is already quite clean and the rules say "do NOT force it."

Let me add just one or two subtle things and not overdo it.

Final version with light humor sprinkled:

Para 2: Add "saving everyone a few months of integration status updates"

Para 9: Add brief quip about stablecoins winning

Actually, looking at the rules again: "Include light, dry crypto-native humor; do NOT force it." - so I should include some but not force it. Let me add 1-2 small touches.

Let me finalize:

Para 1: Clean (unchanged essentially) Para 2: "The Privy integration turns that into a standard API call, sparing future integrators the usual six months of integration check-ins." Para 3-8: Mostly unchanged Para 9: Add subtle quip Para 10-11: Unchanged

Let me write the final output.

Title: Veda brings vault stack to Privy's 2,000-plus developer teams

Now let me count the title words: Veda (1) brings (2) vault (3) stack (4) to (5) Privy's (6) 2,000-plus (7) developer (8) teams (9). 9 words. Good.

Actually, let me reconsider the title. The original emphasizes "behind Kraken DeFi Earn" which is a nice hook. Let me try: "Veda brings Kraken-tested vault stack to Privy's 2,000-plus dev teams" - 10 words. Better.

Or: "Veda vaults land on Privy, reach 2,000-plus dev teams" - 8 words. Decent.

I'll go with: "Veda brings Kraken-tested vault stack to Privy's 2,000-plus dev teams"

Now final article:

---

Vault infrastructure provider Veda is making its vaults available to the developer teams building on Privy, the wallet infrastructure company Stripe acquired last June, the two companies said Tuesday. The announcement was made at Proof of Talk 2026 at the Louvre Palace in Paris.

Until now, Veda's vaults reached the market through one-off institutional integrations. Kraken used them to launch Kraken DeFi Earn, and EtherFi used them to build its Liquid product. Each of those took dedicated engineering and months of coordination, the kind of commitment most companies cannot justify. The Privy integration turns that into a standard API call, sparing future integrators the usual six months of integration check-ins.

"Until now, we didn't have a way to bring our proven vault stack to thousands of startups who want to integrate onchain yield," Sunand Raghupathi, Veda's co-founder and CEO, said in a statement. "Any team building on Privy can now offer their users the same vault infrastructure that the biggest platforms in crypto use every day."

Privy builds embedded crypto wallets that let fintechs and other businesses spin up easy-to-use wallets for their customers without seed phrases or external apps. The company now powers more than 120 million accounts across over 2,000 developer teams.

In an interview ahead of the announcement, Raghupathi described it as close to a monopoly in its category, calling it "the largest embedded wallet solution in the world." That reach is the point for Veda. "This is like a match made in heaven, because what Privy gives Veda access to is distribution with some of the largest fintechs," Raghupathi told The Block.

Beyond lending

The integration makes Veda the first yield provider on Privy that is not built around lending, Raghupathi said in the interview. Privy had previously connected lending protocols like Aave, which he characterized as simple, single-asset solutions. Veda's two launch vaults instead use diversified, multi-protocol strategies across leading EVM ecosystems, with developers free to set their own fee on top.

The vaults support major stablecoins, and Veda plans to add more allocation pathways, including top lending protocols, after general availability. The company said specific configurations and live yield networks will be published in its