Crypto.com offers noncustodial lending to millions of users directly in-app
“Morpho provides a universal lending network to plug into without changing how customers use Crypto.com today. The result is the best possible yield at users’ fingertips. USDC Earn is live today, and we’re excited about expanding Morpho-powered lending and borrowing to Cronos next.”Ketat Sarakune, Head of Yield & Asset Growth, Crypto.com
The Opportunity
Crypto.com is one of the world’s leading regulated exchanges, with 150M+ users worldwide. It is a leader in providing crypto-powered user experiences, such as the Crypto.com Card and an existing Crypto.com DeFi product line.
As part of Crypto.com’s effort to bring all its products and services onchain, the exchange was looking for a solution that lets customers put idle stablecoins to work – without sending them off-platform, learning new wallets, managing onchain UX, or taking on counterparty risks.
The goal: embed a simple, flexible, and transparent way to earn yield by connecting a universal backend that connects borrowing demand with lending supply globally, while keeping the familiar Crypto.com App and Exchange experience.
In short, Crypto.com was looking to build a “DeFi mullet”: a sleek fintech interface in the front with decentralized infrastructure in the back. The approach lets Crypto.com stay focused on UX and distribution while Morpho provides the noncustodial, onchain lending infrastructure.
The Solution
Crypto.com embedded Cronos USDC Vaults curated by Steakhouse directly into its DeFi Lending product in both the Crypto.com App and the Crypto.com Exchange. The flow is intentionally simple: choose USDC, tap Deposit, and start earning.
Under the hood, user funds are supplied noncustodially to Morpho. Rates are market-driven and rewards are distributed on a regular cadence; users can deposit and withdraw at any time, without minimums or fixed terms.
The plug-and-play nature of Morpho’s infrastructure simplified integration, allowing Crypto.com to deploy a user-centric lending product with minimal infrastructure overhead while remaining open and compliant. Users don’t need to understand any DeFi complexities: the interface is intuitive and simple, and Crypto.com employs account abstraction for each customer – ensuring users maintain control over their funds while all deposits into Morpho remain completely auditable onchain.
This is the DeFi mullet in practice: trusted consumer-friendly UX in front, DeFi infrastructure in the back.
The Results
Crypto.com delivered a simpler, faster, cheaper, and more transparent lending product that offers the most competitive rates onchain within the familiar Crypto.com App and Crypto.com Exchange interfaces – giving users access to the best of DeFi without the complexity.
Building on the success of the integration, Crypto.com and Cronos are expanding their product offerings built on Morpho in Q4 2025. Crypto.com will integrate Morpho on Cronos with direct access to more lending and borrowing, backed by blue-chip assets such as CDCBTC and CDCETH (with more assets coming on the horizon), giving users access to both sides of the lending and borrowing markets.
As with previous DeFi Mullet integrations, operating access to both sides of the market is expected to create a powerful flywheel that fuels growth on both supply and demand.