Gemini offers truly noncustodial onchain earn strategies to millions of users via Gemini Wallet

Gemini has long been recognized as one of the most trusted names in crypto. Founded in 2014 by the Winklevoss twins, Gemini built its reputation on regulatory rigor, security, and consumer-friendly design.

In 2021, the company launched Gemini Earn, one of the first mainstream ways for everyday users to generate yield on their crypto. The product relied on 3rd party lenders, which are centralized and come with counterparty risks. Despite this, Earn helped Gemini stand apart from its competitors, allowing customers to do more than simply buy and hold assets.

Behind the scenes, Gemini has been working on the next generation of Earn that doesn’t rely on counterparties with centralized lending books. This required rebuilding from the ground up on infrastructure that is transparent, verifiable, and aligned with the ethos of crypto.

To achieve this, Gemini turned to a completely onchain solution, building its own gateway to onchain finance, Gemini Wallet, to provide buy, swap and earn features built on completely noncustodial infrastructure.

Gemini Invest, the Earn feature of Gemini Wallet integrates Morpho on Arbitrum**.** Morpho allows Gemini to offer yield products that are fully transparent and self-custodial, without the risks of rehypothecation or reliance on centralized intermediaries.

By integrating Morpho Vaults curated by Steakhouse and Gauntlet, Gemini could relaunch Earn in a way that is dead simple to use while connecting its users to the best rates on chain. Customers deposit stablecoins directly through Gemini Wallet on the Invest tab, and those funds are deposited into curated Vaults powered by Morpho. Behind the scenes, the Vaults allocate liquidity to decentralized lending markets where borrowers pay interest that flows back to Gemini’s customers.

Crucially, the experience remains familiar to the end user: a simple “deposit to earn” flow inside Gemini Wallet. But unlike the old Gemini Earn, everything is onchain, verifiable, and auditable in real time on Arbscan. Users don’t need to trust opaque intermediaries — they can see exactly where their funds are allocated, and that they remain secured by Morpho’s infrastructure.

The integration has enabled Gemini to reintroduce the earn feature with significant improvements, making it resilient, transparent, and fully onchain. Through Gemini Invest, customers now enjoy a next-generation Earn product that combines the user-friendly experience of consumer fintech with the robust security and transparency of DeFi.

This transformation goes beyond merely providing yield. It rebuilds trust. Customers previously skeptical about crypto lending from the 2021 and 2022 era can now access a product where every transaction is verifiable and the underlying infrastructure is decentralized. For Gemini, this marks a fresh chapter: moving past the Genesis and BlockFi setbacks while embracing what they call the “DeFi Mullet”—Gemini in the front, DeFi in the back.

With Morpho powering its lending infrastructure, Gemini can connect to all Morpho-enabled integrations, converting borrowing demands from Coinbase and other exchanges into yield opportunities for Gemini Invest depositors.

This represents the future of finance that Gemini set out to build in the first place: a unified, transparent financial network operating at scale.