Fireblocks Intros Stablecoin Lending for Institutional Clients

The company’s Earn tool, announced Wednesday (April 15), allows users to supply capital to two decentralized finance (DeFi) protocols, Morpho and Aave, while maintaining the same security and governance controls they use for their standard digital asset operations.

“One of the biggest unlocks of onchain finance is the ability to put money to work every second, never letting it sit idle,” Michael Shaulov, Fireblocks co-founder/CEO, said in a news release. “For the first time, institutions can put those balances to work through onchain lending strategies curated by established institutional names, inside the same platform, under the same controls they already run. Every institution on Fireblocks now has access to a revenue line they didn’t have yesterday.”

The release noted that the launch follows a period of growth in stablecoin usage among the company’s 2,400-plus institutional clients. Fireblocks reported processing $6 trillion in stablecoin transfer volume in 2025, representing a 300% year-over-year increase.

Still, the company noted that much of this capital often remains idle during settlement windows, operational holds, or between deployment cycles. Earn aims to let institutions generate revenue from these balances by putting them to work in on-chain lending markets.

The integration includes a curated vault from Sentora, which is powered by the Morpho lending network. Additionally, institutions can access Aave’s stablecoin lending markets, which facilitate a large portion of the borrowing activity within the DeFi ecosystem.

In other stablecoin news, PYMNTS wrote last week about new Federal Reserve research, which showed the vast majority of stablecoins aren’t flowing through the real economy. Instead, the tokens are either sitting idle or circulating within crypto markets, and thus not being used to pay for goods and services.

“The takeaway is blunt: payments barely register, while most activity remains inactive or tied up in financial infrastructure rather than commerce,” PYMNTS wrote.

The Fed estimated that less than 1% of stablecoins are used for payments, according to transaction volume and inferred velocity. Meanwhile, nearly half of all stablecoins are used within crypto finance, including exchanges, lending protocols and related infrastructure.

This is in keeping with research by PYMNTS Intelligence, which shows that more than 40% of middle market companies report having at least discussed or tested stablecoins, while only 13% report said they were actually using the coins.

“The gap between awareness and implementation underscores a persistent hesitation among finance leaders,” PYMNTS wrote. “Stablecoins are regarded as potentially useful, but not yet embedded in standard financial operations.”