Trezor users can now earn yield on USDC and USDT directly through Trezor Suite, the company announced. The feature comes via an integration with Morpho, a decentralized finance protocol, giving hardware wallet holders a simplified way to put their stablecoins to work without leaving the safety of cold storage.
How the yield feature works
The integration sits inside Trezor Suite, the desktop and web interface that accompanies the company's hardware wallets. Users who hold USDC or USDT can supply those tokens into a Morpho lending market and begin accruing interest. The process doesn't require moving funds to a hot wallet or interacting with a separate DeFi app — it's all handled within the Trezor environment. The company stressed that private keys never leave the device, so signing transactions for deposits or withdrawals remains under the user's physical control.
Morpho is an Ethereum-based lending protocol that optimizes interest rates by matching suppliers and borrowers directly. For Trezor users, the default market is a so-called “blue chip” pool designed for stablecoins. The yield rate fluctuates based on supply and demand; there is no fixed APY.
Why Trezor is adding DeFi access
Hardware wallets have long been seen as the gold standard for secure crypto storage, but they have also been criticized for being passive — coins just sit there. By adding yield-generating capabilities, Trezor is trying to bridge the gap between security and utility. The company said the move is part of a broader push to make DeFi accessible to non-specialist users who want to earn returns without taking on the complexity of managing multiple protocols or risking their keys.
The integration comes at a time when stablecoin yields in DeFi have been volatile but generally higher than traditional savings accounts. USDT and USDC are the two largest stablecoins by market cap, and both are widely used in lending markets.
What users should know before depositing
While the process is designed to be simple, it still involves smart-contract risk. Morpho, like any DeFi protocol, carries the possibility of bugs or exploits. Trezor noted that the integration uses only audited contracts, but it did not guarantee against loss. Users also face the usual risks of stablecoin depegging or liquidation if they borrow against their deposits — though the default market is lending-only, so borrowing isn't required.
Another consideration: gas fees. Every deposit, withdrawal, or claim transaction requires an Ethereum transaction, meaning users will need ETH in their wallet to pay for gas. On busy days, those fees can eat into small yields. Trezor recommends depositing amounts that make the gas cost worthwhile.
The feature is rolling out gradually to Trezor Suite users. The company did not announce a specific cutoff for availability by region, though DeFi access may be restricted in certain jurisdictions due to local regulations.
For now, the yield option is limited to USDC and USDT on Ethereum. There is no word yet on whether Trezor will expand to other blockchains or additional tokens.
