Overview
- Trezor now offers native yield on USDC and USDT inside Trezor Suite through a Morpho integration that routes deposits into two Steakhouse Financial–curated vaults called USDC Prime and USDT Prime.
- Steakhouse’s selected vaults target about 4.5%–6.5% APY for USDC and 4.5%–6% for USDT and charge a 15% management fee on returns.
- All deposits, withdrawals and reward claims are signed directly on users’ Trezor devices using clear-signing so private keys stay local while capital moves on-chain to Morpho.
- Trezor says the payback comes from borrowing demand on Morpho rather than token incentive programs, and the move follows other firms that use Morpho as a lending backend.
- The launch raises trade-offs for users: it widens access to on-chain yield inside hardware wallets and increases competition with Ledger, but it also exposes savers to protocol and issuer risks noted by critics such as Vitalik Buterin.