Trezor Suite adds on-device stablecoin yield via Morpho

Hardware wallet provider Trezor has integrated a new feature allowing users to earn yield on stablecoins directly within its Trezor Suite application, eliminating the need to connect to external wallets or separate decentralized finance platforms. The feature, announced this week, is powered by an integration with Morpho, a decentralized lending protocol built on Ethereum.

Users can now deposit USDC and USDT into two preselected vaults, USDC Prime and USDT Prime, which are curated by the independent yield strategy firm Steakhouse Financial. All deposits, withdrawals, and reward claims are signed directly on the user's physical Trezor hardware wallet through a process called clearsigning, which translates complex contract data into plain language on the device's screen before confirmation. This keeps the user's private keys securely within the hardware wallet throughout the process.

Tomas Susanka, Chief Technology Officer at Trezor, stated the integration aims to resolve a longstanding tradeoff for hardware wallet users. He explained that users previously had to choose between the security of their hardware wallet and access to DeFi yield, as earning yield typically required...