Hardware wallets are evolving to include a new feature that allows users to earn yield directly through decentralized finance (DeFi). This trend began with Ledger’s launch of stablecoin yield services through Kiln in April 2025, followed by Tangem’s partnership with Aave later that year. By May 2026, Trezor introduced its own version, powered by Morpho, marking a significant step for hardware wallets in the DeFi landscape.
In an interview with Tomáš Sušánka, the Chief Technology Officer of Trezor, he explained the rationale behind Trezor’s new feature and how it benefits users.
Trezor has unveiled a stablecoin yield option integrated within Trezor Suite, allowing users who hold USDC or USDT on the Ethereum blockchain to deposit their stablecoins in specifically curated Morpho vaults. This streamlined process enables users to earn yield without relying on third-party wallets, dApp interfaces, or browser extensions. With just a few clicks, users can initiate deposits, with every transaction step verified and displayed in plain language, ensuring clarity before any approval.
Sušánka elaborated that the decision to implement this feature was driven by two major factors. Firstly, there has been a significant increase in stablecoin holdings among Trezor users, many of whom are seeking ways to earn yield on idle assets. Secondly, the necessary infrastructure for secure yield generation has matured, particularly through Morpho’s reliable operations over the past few years.
When creating this feature, Trezor made a conscious choice to curate the user’s options rather than offering a long list of protocols. By selecting two vaults—USDC Prime and USDT Prime—as curated options, Trezor aims to simplify the process for users who may not be comfortable navigating the complexities of DeFi. Sušánka emphasized that the design is intentional; the goal is to provide an easy entry point for users unfamiliar with DeFi protocols without overwhelming them with information.
The conversation also touched on the importance of ‘clear-signing’ in the security of transactions. Unlike ‘blind-signing’, where users approve transactions without comprehensible details, Trezor ensures that every transaction is displayed in understandable terms on the device screen. This reduces the risk of users falling victim to compromised applications and enhances overall safety.
Comparing the Trezor experience to using a Morpho vault via a traditional web application, Sušánka noted that while the underlying actions remain the same—depositing, withdrawing, and claiming—the verification process is much more secure within Trezor Suite. Users retain greater control, not having to connect to external dApps and thus minimizing potential risks.
Despite the added security of hardware-wallet signing, Sušánka emphasized that the risks associated with smart contracts themselves remain unchanged. Trezor’s approach focuses on protecting users against common DeFi losses that arise from phishing, malicious dApps, and browser vulnerabilities.
Looking ahead to the future of hardware wallets, Sušánka speculated that as various wallet options expand with DeFi features, there will be a clearer divide between those prioritizing curated choices and those offering broader options. Simultaneously, he anticipates that security standards will need to evolve to keep pace with the increasing amount of value moving through hardware wallets, as the threat landscape becomes more sophisticated.
In summary, Trezor’s native stablecoin yield feature represents a significant evolution in the hardware wallet market, providing a user-friendly pathway into the world of decentralized finance while maintaining a commitment to security and clarity in user transactions.
