Summary
- Fireblocks said it has launched Earn, a stablecoin service for institutions.
- The company said institutional investors can connect stablecoin balances on the platform to on-chain lending protocols including Aave and Morpho.
- Fireblocks said returns follow a variable structure generated by the underlying protocols and that yields could fall to zero.
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Blockchain infrastructure firm Fireblocks has launched a stablecoin service for institutional clients.
Fireblocks on June 15 introduced Earn, a feature that allows institutional investors to deploy stablecoin balances held on its platform into on-chain lending protocols such as Aave and Morpho, according to Cointelegraph. The service is being offered as early access to existing Fireblocks customers.
Earn is designed to help institutions put stablecoin balances tied up in pending payments and similar uses to work. At launch, it provides access to Morpho vaults managed by Gauntlet and to Aave’s stablecoin lending markets.
Fireblocks did not disclose a target yield. The company said returns are variable because they are generated by the underlying protocols, and yields could fall to zero.
Chief Executive Officer Michael Shaulov said the new service enables institutions to allocate funds to vetted, institutional-grade on-chain lending strategies from within a platform they already use.
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul
