Coinbase has rolled out a major new DeFi-powered feature, enabling users to earn higher yields on their USDC holdings directly through its platform. Announced Thursday, the exchange is integrating Morpho, one of the largest decentralized lending protocols with over $8.3 billion in TVL, into the Coinbase app.
Curated by Steakhouse Financial, Morpho vaults will allow users to lend USDC onchain without the complexity of navigating external wallets or interfaces. Coinbase already rewards USDC holders with up to 4.5% APY, but with Morpho integration, yields could reach as high as 10.8%, according to data on Wednesday.
A Coinbase spokesperson emphasized that the feature is currently tied only to Morpho and reminded users of the inherent risks in lending markets. The move underscores Coinbase’s deeper push into DeFi at a time of accelerating stablecoin adoption and reflects broader demand for onchain yield opportunities.
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