Steakhouse Financial builds its leading fintech curation business on Morpho
110+
$2.3B+
"The next stage of growth for onchain credit is being led by integrations with financial products that users are already familiar with. These institutions trust Steakhouse's expertise to support that reach and scale, opening lending markets to new users and helping onchain finance become a part of everyday financial activity.”Sébastien Derivaux, Chef at Steakhouse Financial
The Opportunity
Steakhouse Financial is one of the leading names in DeFi. They catalyzed the emergence of the tokenized real-world assets industry by onboarding US treasuries and private credit assets to MakerDAO, a portfolio that grew to over $2.5B.
In 2024, with the introduction of Morpho Vaults, firms like Steakhouse finally had a way to apply that expertise through lending products for users and platforms. Curators could assess collateral, set exposure limits and oversee allocations across lending markets, with these parameters reflected in the vault’s onchain configuration.
As lending products matured, fintechs and exchanges began bringing Earn products onchain, and they all faced the same gap. Their expertise lies in user experience, but they needed a risk expert fluent in both traditional balance sheets and DeFi collateral to configure the risk parameters behind those products.
The Solution
Steakhouse has established their position as the leading stablecoin curator on Morpho, as integrated by leading Fintechs such as Coinbase and Robinhood
When Coinbase launched USDC lending in September 2025, user deposits flowed into a Steakhouse Prime vault on Morpho, backed by blue-chip collateral such as cbBTC and WETH. In June 2026, the product expanded to a second risk tier with a High Yield vault offering a broader collateral basket.
In July 2026, Robinhood launched its flagship onchain product, Robinhood Earn, which brought onchain finance to millions of new users. The product integrates a Steakhouse-curated USDG vault that allocates across Morpho Markets.
The Results
By September 2026, Coinbase's USDC lending product and Robinhood Earn had both grown above $500M in deposits. These integrations bring millions of retail users access to onchain yield via Steakhouse curated vaults.
With familiar and trusted fintechs in the front and Steakhouse's curation on Morpho in the back, Steakhouse's business has kept compounding:
- $2.2B+ in deposits across Steakhouse-curated Morpho Vaults, up from $1.5B a year ago;
- ~6,000 users supplied into Steakhouse-curated vaults in the first days of Robinhood Earn