Tempo to Add Morpho-Based DeFi Lending Function
Summary
- Tempo is expanding its on-chain financial services by adding Morpho-based DeFi lending functions.
- The integration will allow Tempo fintech and corporate users to use deposited stablecoin assets for on-chain lending, borrowing and yield generation.
- Tempo raised $500 million at an approximately $5 billion valuation, and the market is watching growth in institutional DeFi with participation from companies including Visa and Mastercard.
Forecast Trend Report by Period
Stablecoin and payments-focused blockchain Tempo is adding a DeFi lending function, extending its range of on-chain financial services.
CoinDesk reported on May 18 that Tempo plans to introduce a Morpho-based DeFi lending function.
Morpho's lending market is currently estimated at about $7.5 billion.
The integration will allow fintech and corporate users on Tempo to use deposited stablecoin assets for on-chain lending, borrowing and yield generation.
The move suggests Tempo is expanding beyond a payments network into a broader on-chain financial platform.
Morpho will provide risk management and pricing data using curated markets designed by Gauntlet and Sentora, along with RedStone oracle infrastructure.
Tempo raised $500 million last year at a valuation of about $5 billion.
Visa, Mastercard, UBS, Shopify and Klarna are participating in the project, the report said.
The market is watching how the expansion of stablecoin-based on-chain financial services could affect growth in institutional DeFi.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
