Trezor launched native stablecoin yield in Trezor Suite, giving users the ability to earn yield on USDC and USDT on Ethereum without leaving the secure Trezor environment, connecting a third-party wallet, or navigating an external dApp.
The feature is powered by Morpho, a decentralised lending protocol that has operated continuously on Ethereum since 2022. Trezor has pre-selected two Morpho Vaults at launch: USDC Prime and USDT Prime, both curated by Steakhouse, an independent yield strategy firm.
Users do not need to research protocols or pick from a list. Trezor has evaluated the options and selected vaults from established, reputable curators, giving users a convenient path to yield without the homework.
The launch is built around four user outcomes.
Earn in a few clicks, no DeFi knowledge needed
Depositing into a Morpho Vault takes a few clicks inside Trezor Suite on desktop or mobile*. There are no browser extensions to install, no third-party wallets to connect, no protocol research to do. Trezor has handled the technical work upfront, including vault selection based on security and liquidity criteria. Users open Suite, navigate to Earn, and deposit.
Trezor-grade security at every step
Every deposit, withdrawal and reward claim is signed on the user’s Trezor device. Private keys never leave the hardware. Every interaction with the Morpho protocol is done with clear-signing, translating the code into human-readable language on the device screen before the user approves it**. The entire flow runs inside Trezor Suite, removing the need for dApp browsers or external interfaces.
Sustainable yield from real demand
The yield comes from real borrowing activity on Morpho rather than from token emission or reward programmes. Rates move with borrowing demand on the protocol. When borrowing activity is high, rates rise. When it is low, rates fall. There is no artificial headline rate that collapses when an incentive programme ends.
Full control, with instant withdrawals
There are no lockup periods, unbonding queues, or exit delays. Users initiate a withdrawal in Suite, sign with their Trezor, and the transaction settles on-chain. Users hold standard ERC-20 vault tokens throughout, meaning withdrawal is possible through any compatible interface if Trezor Suite were ever unavailable.
Tomáš Sušánka, CTO at Trezor, said: “The point of building this yield feature inside Trezor Suite was to remove the trade-offs. Users have had to choose between the security of their hardware wallet and access to DeFi yield, because getting yield meant connecting to something else. We have brought yield into the Suite environment, with every step signed on the device and translated into plain language before the user approves it. The same security people already trust now covers their stablecoin position.”
Paul Frambot, CEO and CoFounder of Morpho, said: “Morpho’s integration with Trezor brings yield to a much broader audience, including many who have never interacted with decentralized finance before,” said Paul Frambot, CEO and Co-Founder of Morpho. “Over two million Trezor users can now earn yield on their stablecoin balances with the same device they already trust for custody, without changing their habits or learning a new interface. This is how DeFi scales: by becoming invisible to users, easily accessible inside the interfaces and apps they already use.”
Availability
Stablecoin yield is available now in Trezor Suite on desktop and mobile*. To start using the feature please update your Trezor Suite to version 26.5.2. Users on Bitcoin-only firmware will not see it.
*full stablecoin yield features will be available on mobile later this year.
**clear-signing is on all Trezor devices except the Trezor Model One.