Home deFi Morpho Launches PYUSD Vault In Newest DeFi Integration For PayPal’s Stablecoin

Morpho Launches PYUSD Vault In Newest DeFi Integration For PayPal’s Stablecoin

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Morpho Launches PYUSD Vault In Newest DeFi Integration For PayPal’s Stablecoin

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PYUSD now ranks because the tenth-largest stablecoin by market cap.

PayPal’s PYUSD is more and more turning into embedded in DeFi, with Morpho Blue, a decentralized lending protocol, asserting a brand new vault supporting the stablecoin.

On Feb. 14, Morpho introduced the launch of a PYUSD vault curated by Steakhouse Monetary — a DAO-focused monetary advisory agency offering companies to high web3 initiatives together with MakerDAO and Lido.

Liquidity suppliers can earn curiosity on PYUSD lent out to debtors. The vault completely helps Lido’s wstETH liquid staking token and Backed’s tokenized U.S. Treasury Payments as collateral property.

Morpho stated it’s the first touchdown platform to launch assist for PYUSD. The Aave neighborhood voted to assist PYUSD to its cash market protocol with 99.99% assist in early January however is but to onboard the token.