Trust Wallet Launches Stablecoin Earn for Passive Rewards

Trust Wallet, a leading self-custody Web3 wallet, has introduced a new feature called Stablecoin Earn. This feature allows users to deposit stablecoins and earn passive rewards while maintaining full control over their assets. The launch aims to provide a seamless and flexible way for users to put their stablecoins to work, leveraging secure and automated onchain strategies.

Stablecoin Earn supports a variety of stablecoins, including USDC, USDT, DAI, and USDA, across multiple blockchains such as Ethereum, BNB Chain, Base, and Arbitrum. Users can deposit and withdraw their stablecoins at any time without lock-up periods, ensuring full flexibility and control. The feature integrates with established onchain protocols, simplifying the earning experience and eliminating the need for users to manage complex DeFi setups.

Eowyn Chen, CEO of Trust Wallet, highlighted the motivation behind the launch. "Last September, we observed that billions in USDT held by Trust Wallet users on-chain remained inactive for six months despite somewhat bullish market conditions. For our ‘holder-ish’ users, our goal is to help them put their assets to work, while also activating valuable liquidity to support on-chain projects. By integrating secure on-chain strategy platforms through a user-friendly interface, we aim to empower users to easily earn rewards while maintaining full control of their funds."

Stablecoin Earn offers several key benefits to users. They can earn passively on their stablecoins without the need for active trading. The feature allows for anytime deposits and withdrawals, providing users with the flexibility to access their funds whenever needed. Additionally, users can access multiple DeFi protocols in one place, earning rewards across different blockchains. The feature also offers bonus rewards, such as MORPHO tokens, in select vaults, further enhancing the earning potential.

Trust Wallet has partnered with Kiln, a digital asset rewards management platform, to power the backend of Stablecoin Earn. Kiln provides secure and automated access to multiple onchain yield strategies, enabling users to engage with earning opportunities through a streamlined interface. This collaboration allows Trust Wallet to offer a simple and rewarding experience to its users.

Morpho, a leading lending protocol on Ethereum and Base, has also been integrated into Stablecoin Earn. Users have the opportunity to earn exclusive bonus rewards powered by Morpho, including MORPHO token incentives for participating in select vaults. Paul Frambot, CEO and Co-Founder of Morpho Labs, expressed excitement about the partnership, stating, "We’re excited to see Morpho selected as the default earn option in Trust Wallet’s new Earn Hub at launch, helping make DeFi yields accessible to the masses. Morpho was designed to provide self-custody solutions like Trust Wallet with a simple yet highly secure way for their users to earn the best risk-adjusted returns."

Laszlo Szabo, Co-founder and CEO of Kiln, also commented on the collaboration, saying, "We are pleased to bring access to stablecoin yield to Trust Wallet, a longtime partner of Kiln with a history that includes our earlier projects such as Kiln Onchain, Connect, and Validators. As DeFi becomes more widespread and stablecoin yield reached double digits during the bull market, many users have recognized that stablecoins offer notable advantages. With Trust Wallet’s feature now live, our goal is to provide a solid experience for its users and continue refining the product."

Trust Wallet aims to empower users to fully own, control, and leverage the power of their digital assets. The Stablecoin Earn feature is part of Trust Wallet's broader mission to make it easier, safer, and more convenient for users to experience Web3, access dApps securely, store and manage their crypto and NFTs, as well as buy, sell, and stake crypto to earn rewards—all in one place and without limits.