Crypto.com is adding Morpho lending to Cronos, allowing users to earn stablecoin yields on wrapped BTC and ETH, mirroring Coinbase’s push into DeFi lending.
Crypto.com users will soon be able to lend wrapped crypto assets and earn yield on stablecoins through Morpho, a decentralized finance (DeFi) lending protocol.
According to a Thursday statement, Morpho will launch stablecoin lending markets on the Cronos blockchain, with the first vaults expected this year. The integration will allow users to deposit wrapped Ether (ETH) or Bitcoin (BTC) into Morpho vaults and borrow stablecoins against them to earn yield.
Wrapped assets are tokens that represent another cryptocurrency on a different blockchain. On Cronos, wrapped tokens such as CDCETH and CDCBTC mirror ETH and BTC, allowing users to bring value into the network and access DeFi lending markets without leaving the chain.
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