Coinbase Integrates Morpho for Enhanced USDC Rewards in Brazil
- Coinbase is expanding its Morpho-powered DeFi Earn product to eligible customers in Brazil as of September 9.
- Users can earn rewards on their USDC holdings without any lock-up period.
- The lending feature allows users to allocate USDC through the Coinbase app, with deposits matched on-chain via the Morpho protocol.
- Rewards are accrued in an audited vault managed by Steakhouse Financial and are subject to market-driven rates.
- Coinbase’s Earn product has reached nearly $500 million USD in total supply and offers up to a maximum of 7.4% APY.
This integration aims to enhance the utility of USDC for Brazilian users, providing them additional avenues for wealth building alongside existing staking options and rewards programs.
With this expansion, Coinbase continues to innovate in the DeFi space, allowing users to leverage their USDC holdings effectively while offering competitive reward rates based on market conditions. (Source)
