Fireblocks, a Switzerland-based digital asset infrastructure provider, has launched a new service called Earn, enabling its institutional clients to deploy idle stablecoin balances into on-chain lending strategies. The service is now available in Early Access to Fireblocks customers and integrates directly with leading decentralized lending protocols Aave and Morpho.
The product is designed to address a specific inefficiency: large stablecoin balances that remain unused between settlement windows and capital deployment cycles. Institutions using Fireblocks can now allocate capital to a Sentora-curated vault on Morpho or directly to Aave's stablecoin lending markets, all without moving assets out of Fireblocks' custody and control environment. "For the first time, institutions can put those balances to work through onchain lending strategies curated by established institutional names, inside the same platform, under the same controls they already run," said Michael Shaulov, CEO and Co-Founder of Fireblocks.
The scale of the opportunity is significant. Fireblocks reported processing $6 trillion in stablecoin transfer volume in 2025 across more than 2,400 institutional clients, a 300% increase year-over-year. The company currently enables over $10 trillion in digital asset transactions across 150+ blockchains, supporting major firms like BNY, Galaxy, and Revolut.
Returns through Earn are variable and determined by supply and demand dynamics within the underlying protocols; Fireblocks did not disclose a target yield. Aave remains the largest decentralized lending protocol with $25.9 billion in total value locked, followed by Morpho with $7.67 billion, according to DeFiLlama.
This launch is part of Fireblocks' broader expansion beyond custody into capital deployment and financial services, reflecting a wider institutional push into DeFi. Competing offerings include Aave Horizon, Coinbase Prime, Anchorage Digital, Nexo Institutional, and Spark Institutional Lending, all targeting capital efficiency and yield generation for institutions.
