MetaMask Partners with Aave to Offer Stablecoin Earnings

MetaMask, the Ethereum-based crypto wallet, is providing its users with the opportunity to earn interest on their stablecoins through a new partnership with decentralized lending protocol Aave.

Stablecoin Earn Feature

The feature, called Stablecoin Earn, gives MetaMask’s million-plus users access to yield on USDC, USDT, and DAI without leaving their wallet. The earnings are sourced from Aave’s lending infrastructure, which offers yield in exchange for depositing assets that can be borrowed by others.

Rise of Stablecoins

Stablecoins have grown into one of the hottest areas in crypto, boosted partly by new legislation in the U.S., and they initially emerged from the DeFi space.

User Experience Improvements

Earning passive yield on stablecoins within the MetaMask wallet enhances user experience by removing the need to navigate complex decentralized finance (DeFi) interfaces or third-party platforms, according to the company.

Partnership with Aave

MetaMask, developed by core Ethereum firm Consensys in 2016, has a strong partner in Aave, which claims to be the largest DeFi lending protocol by total value locked at over $50 billion.

Integration with Mastercard

Additionally, the Mastercard-powered MetaMask payment card is part of the integration, allowing users to spend Aave’s yield-bearing aUSDC directly in real-world transactions, while continuing to earn yield until the moment of spending.

Stani Kulechov, founder of Aave Labs, stated, “MetaMask is the most popular way for people to access Web3, with millions of users. This partnership brings DeFi earning opportunities straight into the wallets people already use, helping them get more from their assets and take control of their financial future.”