Flowdesk integrates Morpho to power its global trading business
“Morpho gives us access to deep liquidity at the best possible rates, while enabling robust risk management. Morpho is core to unlocking liquidity, deploying idle balance sheet assets, capitalizing on low risk looping strategies, and in turn help offer best pricing to our counterparties.”Greg Guttas, Head of OTC Trading at Flowdesk
The Opportunity
Flowdesk operates a global trading business across centralized and decentralized venues, integrating with 140+ exchanges. To scale market making and OTC services while maintaining tight risk controls, Flowdesk needed access to deep liquidity and market competitive rates, while having the ability to tailor their risk exposures.
The Solution
Flowdesk integrated Morpho as its core onchain lending network across its three core business verticals:
1) Unlocking liquidity across bluechip assets, PTs, LSTs, and alts
By borrowing stablecoins against crypto collateral on Morpho Markets, Flowdesk accesses deep, permissionless liquidity at the best possible rates onchain. Leverage sourced on Morpho fuels day‑to‑day trading and inventory management while maintaining the firm’s ownership of collateral assets.
The deep liquidity available for borrowing comes from a variety of large-scale consumer app integrations with fintechs like Coinbase, Gemini, Crypto.com, Ledger, Trust Wallet and etc that are global on day one, and truly global.
2) Deploying idle balance sheet to optimize yield
Flowdesk selects trusted curators and blue‑chip collateral profiles to deploy idle assets across various Morpho Vaults. The vault architecture provides noncustodial, transparent, onchain allocation into robust lending markets—aligning yield sources with a disciplined risk framework and improving balance‑sheet efficiency.
Yield sources on Morpho are diversified by design, ranging from low-risk DeFi Mullet integrations with Coinbase crypto-backed loans to RWA-backed vaults such as Steakhouse Financial’s Smokehouse or Gauntlet’s Frontier vaults.
3) Capitalizing on low‑risk looping strategies
Flowdesk leverages PT markets on Morpho to execute conservative, capital‑efficient stablecoin loops. This approach maximizes stablecoin liquidity and carry while maintaining clear guardrails around collateralization and liquidation thresholds.
The Results
Flowdesk has integrated Morpho to lower its effective cost of capital for working inventory and improved day-to-day liquidity management across a global operation that runs 24/7/365 from five offices and connects to 140+ CEXes and DEXes across 1,000+ asset pairs.
The net effect: larger and more consistent quoting capacity across venues, tighter spreads, and more competitive OTC pricing for counterparties.