TruBit Partners with Morpho for DeFi Yield Product

TruBit, a Latin America-based cryptocurrency exchange with regulatory licenses in Mexico and Argentina, is offering a decentralized finance (DeFi) yield product powered by crypto lender Morpho.

Catering to a growing demand for crypto-backed lending, this move by retail exchanges aims to simplify user interaction with decentralized, automated lending and borrowing, creating a so-called “DeFi mullet” (fintech on the front end, DeFi at the back).

Morpho’s partnership with TruBit follows the DeFi lending protocol’s earlier announcement with Coinbase to offer bitcoin-backed loans.

“We think that fintech at the front and DeFi at the back is really the way DeFi will scale,” said Morpho co-founder Merlin Egalite in an interview. “If you look at the DeFi landscape right now it’s still quite nerdy and technical. Integrating DeFi into fintech companies provides a less cumbersome and more familiar user experience.”