Gelato and Morpho have joined forces to make getting crypto-backed loans super easy. This new partnership lets wallets, brokers, and fintech apps offer their users instant stablecoin loans (like USDC) using their existing crypto as collateral.
Seamless Borrowing, No Fuss
The whole process is designed to be simple and user-friendly, much like a traditional Web2 experience. It’s all done on the blockchain (non-custodial) and secured by smart contracts, meaning no third party holds your funds. Users can borrow with a few clicks using their on-chain bank account, thanks to some clever tech like gasless transactions.
The Tech Behind the Magic
This ease of use comes from combining Gelato’s Smart Wallet SDK (used by companies like Safe and Gnosis Pay) with Morpho’s established lending platform. Morpho, which already boasts over $6.5 billion in assets and a recent partnership with Coinbase, provides the secure lending infrastructure. Gelato’s SDK handles the user-friendly interface, including things like one-click onboarding and gas fee coverage.
Key Features:
- Borrow USDC instantly using crypto like BTC as collateral.
- Completely non-custodial and on-chain.
- No credit checks needed.
- One-click wallet creation using email, social logins, or passkeys.
- Gasless transactions across many blockchains.
- Full brand control for integrating platforms.
Future Enhancements
Gelato plans to add even more security features later this year, including passkey authentication and multi-signature approvals. These upgrades will all be implemented on the blockchain to keep everything decentralized.
Where to Find It
You can try out a demo of this new loan system at https://morpho-aa.demo.gelato.cloud. The beta version is currently available on Polygon, Arbitrum, Optimism, and Scroll, with more networks coming soon.
About the Companies
Morpho: A decentralized lending protocol offering open, on-chain money markets with over $6.5 billion in total value locked. Learn more at https://morpho.org/.
Gelato: Web3’s developer cloud, helping companies build user-friendly, non-custodial apps. Learn more at https://gelato.cloud/
./p>
