TREE NEWS update: Ledger has integrated Morpho lending, letting eligible users borrow USDC or USDT on Ethereum against wrapped Bitcoin. The pledged collateral sits in smart contracts and remains subject to liquidation. No launch date or fee terms were disclosed.
Ledger Adds Morpho Lending Against Wrapped Bitcoin
This marks a hardware wallet moving from custody into on-chain credit, a notable shift for a firm whose pitch has been self-custody. It affects Ledger users holding wrapped Bitcoin who want stablecoin liquidity without selling, though the liquidation exposure is explicit and the absence of fee terms leaves the economics unclear. The open question is whether a security-first brand can carry lending risk without blurring its core promise.
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