Trezor Unlocks Stablecoin Yield with Morpho Integration

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Trezor’s Morpho integration unlocks stablecoin yield

Trezor now allows users to earn rewards on their USDC and USDT directly within the Trezor Suite through a new integration with Morpho.

Summary

  • Trezor Suite now offers native USDC and USDT yield through two Morpho vaults curated by Steakhouse Financial.
  • Yield comes from borrowing demand on Morpho, not token incentive programs.
  • Deposits, withdrawals and reward claims are signed directly on the Trezor hardware wallet.

Trezor, the hardware wallet company, has added a new feature to its Trezor Suite software that allows users to earn rewards on their stablecoins. By partnering with Morpho, users can now easily earn yield on USDC and USDT directly within the Trezor Suite app, without needing to transfer their crypto anywhere else.

As an analyst, I’m seeing a clear trend of traditional custody providers integrating DeFi into their main offerings. A good example is Trezor’s launch with Morpho’s Steakhouse Prime USDC vault. This vault is one of the first they’ve chosen, and it works by using deposits – backed by established cryptocurrencies and even real-world assets – to generate yield through lending. Essentially, it’s a way for clients to earn rewards on their holdings by participating in DeFi lending markets, all within a secure custody solution.

How the Morpho integration works

Trezor has chosen two investment options from Steakhouse Financial called USDC Prime and USDT Prime. These options offer returns between 4.5% and 6.5% for USDC and 4.5% to 6% for USDT, and Steakhouse Financial charges a 15% fee for managing them.

Users confirm deposits, withdrawals, and reward claims directly on their Trezor device, where transaction details are clearly shown on the screen. This keeps their funds secure while still allowing them to participate in on-chain transactions.

Trezor Suite now offers opportunities to earn yield on stablecoins, thanks to a partnership with Morpho and curation by SteakhouseFi. This expands Trezor Suite’s offerings – which already include buying, selling, and staking crypto – making it a one-stop platform for managing your digital finances without giving up control of your assets. This new feature is available to Trezor’s over 2 million users.

— Morpho 🦋 (@Morpho) May 28, 2026

Trezor explains that the interest earned comes from people borrowing crypto on Morpho, not from rewards paid in tokens. Trezor is a leading hardware wallet company, second in size only to Ledger, which already lets users earn interest on stablecoins directly through its Ledger Live app.

Why Morpho keeps winning institutional flows

Morpho is now the standard technology used by companies managing digital assets and offering interest-earning opportunities. It originally powered Coinbase’s Bitcoin loans, which began in early 2025, and now also supports loans using XRP, DOGE, ADA, and LTC on the same platform.

Other financial firms are also getting involved. Bitwise started a new service on Morpho in January that aims to earn about 6% annual interest on USDC, and Apollo Global Management plans to buy up to 90 million MORPHO tokens over the next four years.

Vitalik Buterin recently pointed out that many strategies for earning yield with USDC rely too much on central companies. However, Trezor presents its product differently, describing it as a way to lend crypto directly on the blockchain with the added security of hardware signing, rather than simply holding your crypto with a custodian to earn interest.

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2026-05-28 23:51