Web3 self-custody crypto wallet Trust Wallet has announced the launch of a new feature called Stablecoin Earn, which will enable users to earn additional income on stablecoins without the need for locking or staking funds.
The feature, which is powered by Kiln and Morpho, will be available for several stablecoins, including USDC, USDT, DAI, and USDA, across several blockchains such as Ethereum, BNB Chain, Base, and Arbitrum.
Multiple platforms and blockchains in one wallet
Trust Wallet has partnered with Kiln, a digital asset rewards management platform, which has integrated its services into Stablecoin Earn. Additionally, Morpho, a leading DeFi infrastructure provider, was selected as the default earnings option for the new feature.
However, users will also have the opportunity to earn exclusive bonus rewards in MORPHO tokens.
According to Trust Wallet CEO William Chen, the new feature offers several advantages, such as passive income (no active trading required).
“This new feature offers several advantages for our users. They can now earn additional income on their stablecoins with minimal effort, and they have the flexibility to deposit and withdraw funds at any time — no lockups, and access to multiple DeFi protocols is provided in one place, enabling them to earn yields across Ethereum, BNB Chain, Arbitrum, and Base,” Chen said.
Moreover, all transactions occur on-chain, transparently and without intermediaries, enabling users to verify how their stablecoins are generating returns.
As we wrote, on Saturday, some Trust Wallet users were shocked to find their balances had been wiped out. The issue, however, turned out to be technical and was not related to any hacking attempts.
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