PayPal’s USD stablecoin, PYUSD, can now be used to earn yield in Morpho Blue. Morpho Blue is Morpho’s new decentralized lending protocol. It permits anybody to create lending markets with any belongings. This distinctive function enabledSteakhouse Monetary to curate a PYUSD vault on Morpho Blue.
Steakhouse Monetary is utilizing two belongings because the principal collateral belongings of the vault. The primary is Backed’s wrapped tokenized Treasury Invoice (blB01 token). The opposite is Lido’s wstETH liquid staking token.
The mixture creates a twin engine of yield.It’s an method that optimizes returns throughout totally different market situations by combining real-world and crypto yields. Backed permits this distinctive method with its bTokens – tokenized real-world belongings (RWAs).
Backed’s bTokens observe the worth of real-world belongings equivalent to shares or ETFs. bTokens are totally collateralized by the underlying belongings, and they’re traded over the blockchain in compliance with the Swiss DLT Act. bTokens may be permissionless or permissioned.
Adam Levi, Co-founder at Backed, explains:
“At Backed, we’re creating essentially the most composable and interoperable tokenized real-world belongings. We concentrate on offering best-in-class reliability for our buyers,and are trying ahead to seeing bToken’s elevated adoption in new lending markets.”
Integrating with Morpho Blue is the primary time that PYUSD has been added to a significant lending market. That is the newest DeFi-friendly transfer made by the stablecoin. Just lately, PYUSD enabled Chainlink Value Feeds for dependable on-chain information.
Moreover, that is precisely the type of integration that Morpho Blue was constructed for.
Paul Frambot, Co-founder and CEO at Morpho Labs, says, “At Morpho we imagine protocols ought to do much less to allow extra. Morpho Blue is a remarkably easy protocol that facilitates lending of any asset. We’re excited to see its permissionless market creation getting used to help the adoption of PYUSD.”
This transfer additional underscores PayPal’s dedication to fostering a vibrant DeFi ecosystem. PYUSD is among the prime 10 stablecoins, and PayPal seems dedicated to growing PYUSD right into a critical competitor within the stablecoin enviornment. PYUSD is issued by Paxos for PayPal. It’s underneath the supervision of the New York State Division of Monetary Companies (NYDFS).
PayPal’s USD stablecoin, PYUSD, can now be used to earn yield in Morpho Blue. Morpho Blue is Morpho’s new decentralized lending protocol. It permits anybody to create lending markets with any belongings. This distinctive function enabledSteakhouse Monetary to curate a PYUSD vault on Morpho Blue.
Steakhouse Monetary is utilizing two belongings because the principal collateral belongings of the vault. The primary is Backed’s wrapped tokenized Treasury Invoice (blB01 token). The opposite is Lido’s wstETH liquid staking token.
The mixture creates a twin engine of yield.It’s an method that optimizes returns throughout totally different market situations by combining real-world and crypto yields. Backed permits this distinctive method with its bTokens – tokenized real-world belongings (RWAs).
Backed’s bTokens observe the worth of real-world belongings equivalent to shares or ETFs. bTokens are totally collateralized by the underlying belongings, and they’re traded over the blockchain in compliance with the Swiss DLT Act. bTokens may be permissionless or permissioned.
Adam Levi, Co-founder at Backed, explains:
“At Backed, we’re creating essentially the most composable and interoperable tokenized real-world belongings. We concentrate on offering best-in-class reliability for our buyers,and are trying ahead to seeing bToken’s elevated adoption in new lending markets.”
Integrating with Morpho Blue is the primary time that PYUSD has been added to a significant lending market. That is the newest DeFi-friendly transfer made by the stablecoin. Just lately, PYUSD enabled Chainlink Value Feeds for dependable on-chain information.
Moreover, that is precisely the type of integration that Morpho Blue was constructed for.
Paul Frambot, Co-founder and CEO at Morpho Labs, says, “At Morpho we imagine protocols ought to do much less to allow extra. Morpho Blue is a remarkably easy protocol that facilitates lending of any asset. We’re excited to see its permissionless market creation getting used to help the adoption of PYUSD.”
This transfer additional underscores PayPal’s dedication to fostering a vibrant DeFi ecosystem. PYUSD is among the prime 10 stablecoins, and PayPal seems dedicated to growing PYUSD right into a critical competitor within the stablecoin enviornment. PYUSD is issued by Paxos for PayPal. It’s underneath the supervision of the New York State Division of Monetary Companies (NYDFS).
