Gelato and Morpho have announced the launch of a new service for providing crypto loans that allows users to instantly borrow stablecoins using their crypto assets as collateral.
Overview of the New Solution
The partnership between Gelato and Morpho offers the integration of collateralized loans into user apps and wallets. This new initiative enables borrowing in stablecoins like USDC using cryptocurrencies as collateral. It is expected that this solution will simplify the loan process and provide a hassle-free user experience.
Key Features of Lending
The crypto-backed loans offered through this partnership are fully non-custodial and implemented via smart contracts. Key features include: * Borrowing USDC in one click using crypto assets like BTC as collateral; * Complete non-custodial and on-chain integration; * No credit checks required; * Easy wallet creation via email, social login, or passkeys; * EIP-7702 powered Smart Wallet Account; * Embedded UX with full brand control; * Gasless transactions across 50+ EVM chains.
Future Development Prospects
Later this year, Gelato plans to introduce new security and recovery features. These innovations will include passkey authentication, multi-signer two-factor approvals and recovery modules tied to email or social logins. All enhancements will be implemented at the smart contract level to ensure full decentralization.
The launch of Embedded Crypto-Backed Loans by Gelato and Morpho aims to meet the increasing demand from users for convenient and safe financial instruments in the crypto space.
