Morpho Effect: November 2025

Top of mind
Stablecoins are checking accounts; vaults are savings accounts.
Devconnect 2025 was another testament that institutions and enterprises are coming onchain. Morpho hosted the first-ever Vault Summit, with each session packed with thought leaders from across TradFi and DeFi.
In 2026, vaults will do to finance what stablecoins did for payments: bring asset managers onchain and make all of their assets productive.
TL;DR
🔹 Morpho Everywhere at EF Devconnect 2025, along with the 1st-ever Vault Summit hosted by Morpho
🔹 Coinbase ETH-backed Loans now live, powered by Morpho
🔹 First non-USD/EUR stablecoin, JPYC coming to Morpho soon
🔹 Au revoir, @Morpholabs; Long live @Morpho.
Highlights
ETH-backed loans on Coinbase, powered by Morpho
Crypto.com Earn powered by Morpho, now available in the US
Vault Summit, hosted by Morpho. The first-ever vault-focused summit at Devconnect 2025
The first stablecoin lending market beyond USD and Euro, JPYC will soon be live on Morpho as a collateral and loan asset
Morpho Labs no more. Long live Morpho.
Product Updates
Morpho is now live on Monad
A simple way to navigate to all Vaults V2 with 1 toggle
Skip indexing, and start building with the Morpho API
What are they saying about Morpho
- France must modernize taxation for governance tokens to protect contributors, strengthen digital sovereignty, and stay competitive globally – opinion piece by Faustine Fleuret, Morpho’s Head of Public Affairs on Le Agefi
- Morpho-powered ETH-backed loans live on Coinbase by The Block and by Bankless
- Merlin on Sygnum Bank’s latest Crypto Explorer podcast
What do the numbers say
Curators are generating $300,000 in fees per week

Morpho is fully onchain and open, if you want to check out any Morpho Ecosystem Data, this is your guide
Textbook on how to build a liquidity flywheel, courtesy of Sid from Coinbase
Ecosystem Updates
- Morpho stands with Crypto and is part of Stand with Crypto EU’s first cohort
- Blockworks adds a curator-specific dashboard
- VNX and Apostro launched VCHF, the CHF-denominated stablecoin on Morpho, as a loan asset
- Trust Wallet Earn, now with increased USDT rates powered by Morpho
- Get a stablecoin loan from Morpho to pay for rent
- Earn on Axal App, powered by Morpho
- Variant Fund’s latest report highlights Morpho’s 500% YoY growth
- Risk Ratings by Credora methodology is now live, making its return to the Morpho App one step closer
- Vaults will become as ubiquitous as stablecoins
- KPK is now a curator on Morpho, with its USDC, EURC, and ETH vaults already live
- Utila launched its Stablecoin yield solution on OP Mainnet, powered by Morpho
- Propy’s latest $100M funding round is partially enabled by a BTC-backed loan using Morpho
- Pangolins is one of the latest curators on Morpho, bringing its experience as one of the most OG DeFi communities in the Chinese-speaking world
- Curators are the future of onchain lending



