Stable launches StableEarn, enters yield management with Morpho Vault

Huoxing Finance reports that on May 26, Stable, a blockchain focused on stablecoin payments, launched StableEarn, officially entering the asset management space, with its first vault now live on Morpho. Stable stated that the product is designed for neobanks, fintech companies, payment processors, and individual users. The first vault is designed and managed by crypto risk management firm Gauntlet, responsible for allocating deposited assets into Morpho’s lending markets and managing capital limits and reallocations. This vault is underpinned by products from Theo, an institutional-grade real-world asset yield platform, featuring strategies including thBILL—tokenized exposure to U.S. Treasuries—thGOLD, an interest-bearing gold token backed by loans to jewelers, and thUSD, an interest-bearing stablecoin built on gold derivatives. This launch positions Stable within the market segment where Gauntlet’s vaults already provide stablecoin yield management. Meanwhile, U.S. policymakers are debating how interest-bearing stablecoin products should be incorporated into the regulatory framework.