Consensys has integrated Aave's lending protocol into MetaMask, allowing users to earn yields on stablecoins directly in the wallet.
Aave Offers New Stablecoin Yield Feature for MetaMask
Consensys has chosen the decentralized finance (DeFi) protocol Aave to power the new 'Earn Money from Stablecoins' feature in the MetaMask wallet. This integration allows users to earn yields on USDC, USDT, and DAI stablecoins directly through their wallet.
According to a press release shared with Bitcoin.com News, this is MetaMask's first step into decentralized lending beyond the existing staking services. Aave serves as the DeFi lending partner for this feature.
Aave founder Stani Kulechov stated that this collaboration brings DeFi income directly to the wallets that users are operating. MetaMask's global product lead, Gal Eldar, mentioned that users can now use stablecoins to increase their balance in the wallet.
Eldar commented:
“Aave provides scale and security to deliver that, and together, we are expanding access to a better financial system that is open to anyone, anywhere.”
MetaMask, launched in 2016, has reported over 100 million global users as a self-custodial wallet. Aave, founded in 2020, holds over $35 billion in total locked value (TVL), making it one of the largest DeFi protocols by TVL. It is recognized for its risk management tools and liquidity depth.
The companies note that they previously collaborated on the MetaMask Card, allowing users to spend yield-earning aUSDC stablecoins in real-world transactions while still accruing interest until consumption occurs.
According to MetaMask and Aave, this collaboration shows how consumer applications can integrate Aave's lending markets to expand DeFi access. “Aave's goal is to make DeFi easier for everyone to access anywhere, and to better manage and grow their finances,” Kulechov concluded.
