Fireblocks launches Earn to lend institutional stablecoins

Fireblocks launched Earn, available in Early Access to customers, to route idle institutional stablecoin balances into on-chain lending strategies using Aave and a Sentora-curated vault on Morpho.

The feature targets clients holding large stablecoin balances between settlement windows and deployment cycles. Funds are deployed into Aave’s stablecoin markets or the Morpho vault curated by Sentora.

Fireblocks cautioned that any returns are generated by the underlying protocols, will vary, are not guaranteed and could be zero. The company did not disclose a target yield.

The company reported $6 trillion in stablecoin transfer volume in 2025 across more than 2,400 institutional clients, a 300% increase from the prior year.

Aave held about $25.9 billion in total value locked and Morpho about $7.67 billion, according to DeFiLlama data cited by Fireblocks. Competing institutional offerings for stablecoin lending include Aave Horizon, Coinbase Prime, Anchorage Digital, Nexo Institutional and Spark Institutional Lending.

Earn is in Early Access for select customers; Fireblocks did not provide a broader release date. Funds placed into the protocols remain subject to market and smart-contract risks common to decentralized finance.

Fireblocks has expanded its institutional services in recent months. In October 2025, Fireblocks Trust Company joined other firms to form a crypto custody framework under the New York Department of Financial Services. On Jan. 7, 2026, Fireblocks acquired crypto accounting firm TRES for $130 million to strengthen tax and compliance infrastructure.

Michael Shaulov, Fireblocks CEO and co-founder, described the product this way: “For the first time, institutions can put those balances to work through on-chain lending strategies curated by established institutional names, inside the same platform, under the same controls they already run.”