Wallet, Stablecoin, Web3

Stablecoins are essential components of decentralized finance (DeFi). Yet, they are usually confined to being a medium of exchange and store of value, with few — and often complex — options available to generate yield.

Trust Wallet is a non-custodial cryptocurrency wallet that works to change this dynamic. Its recent feature, Stablecoin Earn, is a wallet-native product that allows users to put idle stablecoins into use within the app.

In this interview, Eowyn Chen, CEO of Trust Wallet, discusses the macro trends that shaped Stablecoin Earn’s development, how the product prioritizes safety and user control, and what’s next for expanding access to it.

Cointelegraph: What macro shifts in DeFi and stablecoins inspired Trust Wallet to introduce a wallet-native yield product?

Eowyn Chen: Over the last year, we’ve seen stablecoins evolve from simple transfer tools to essential building blocks for digital financial access. At the same time, DeFi has matured, moving beyond yield farming hype into more structured, risk-aware strategies. But despite this progress, billions of stablecoins still sit idle onchain.

Last September, we observed that close to 10 billion in USDT held by Trust Wallet users onchain remained inactive for six months despite somewhat bullish market conditions. For our “holder-ish” users, our goal is to help them put their assets to work while also activating valuable liquidity to support onchain projects.

Users want secure, transparent ways to put those assets to use — without giving up control. That’s the opportunity we saw: bringing yield-generating access into the wallet layer, where users already hold their assets and expect a seamless experience. It’s a natural extension of self-custody.

CT: How did you shape Stablecoin Earn’s design after realizing that billions of idle stablecoins remained inactive onchain?

EC: We started with the user problem: onchain stablecoins are often idle, not because people don’t want to use them, but because the steps to find and access yield are fragmented, complex and sometimes risky. So we built Stablecoin Earn to be native to the wallet experience, fully automated and secure under the hood and transparent by design.

Users can access curated protocols, like Morpho and Aave, with just a few steps, while retaining full visibility into where their funds are deployed. We prioritized simplicity and trust, without compromising user control.

CT: How does a first-time user deposit stablecoins and experience the benefits?

EC: It’s designed to be as intuitive as using any modern mobile app. Users select the stablecoin they already hold, choose a protocol from a pre-vetted list and enter the amount they want to deposit. Everything happens directly within Trust Wallet — no need to connect to external decentralized applications (DApps) or sign multiple transactions. Once deposited, users can see their positions and accrued yield in real time. And because it’s self-custodial, they can withdraw at any time, without lockups or third-party custody.

CT: What safeguards ensure Stablecoin Earn’s automated strategies never compromise self-custody?

EC: The foundation of Stablecoin Earn is that users always maintain control of their assets. We don’t custody funds. Strategies are deployed via non-custodial smart contracts on the underlying protocols, meaning Trust Wallet never touches the assets. Also, we’re continuously evaluating how to surface risk warnings, protocol audits and other safety signals in the product experience. It’s yield with user-first safety, not shortcuts.

CT: Why did you choose Kiln and Morpho as core partners, and what unique value do each provide?

EC: We chose Kiln and Morpho because they reflect the next generation of onchain yield design: secure, efficient and built for real users, not just insiders. Kiln brings robust infrastructure for staking-based stablecoin strategies, backed by strong compliance practices. Morpho introduces optimized lending, offering competitive returns with transparent mechanics. Both have strong track records, and for our users, they represent a blend of innovation and reliability.

CT: Which additional stablecoins or blockchains are next on your integration roadmap?

EC: Our focus is on expanding coverage across the most widely used stablecoins and high-demand chains, based on where users already are. Without naming unannounced specifics, we’re evaluating integrations that support multichain access, minimize gas fees and offer strong risk frameworks. The goal is to make Stablecoin Earn as inclusive and adaptable as possible, while maintaining the same simplicity and transparency users expect from Trust Wallet.

Stablecoin Earn tab on Trust Wallet

CT: How does Stablecoin Earn advance Trust Wallet’s mission to onboard the next wave of onchain users?

EC: Stablecoin Earn brings one of DeFi’s most practical use cases — earning on idle assets — into the hands of everyday users. It abstracts complexity without removing transparency. It supports self-custody while unlocking new utility. And most importantly, it builds confidence.

For many users, this is their first step toward understanding how DeFi can work for them, not just around them. It aligns perfectly with our mission: making Web3 accessible, useful and secure — one experience at a time.

Learn more about Trust Wallet

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