# Coinbase Adds High-Yield USDC Vault *Coinbase's Latest High-Yield USDC Vault Powered By Morpho* By [ETH Daily](https://ethdaily.io) ยท 2026-06-12 defi, stablecoins, coinbase, morpho, ethena, usdc, base --- Coinbase [introduced](https://www.coinbase.com/blog/earn-competitive-yields-by-lending-your-usdc) a new High Yield USDC lending vault, expanding its [Morpho-powered earn integration](https://ethdaily.io/627) to two vault options curated by Steakhouse Financial on Base. The High Yield vault generates returns by lending USDC against dynamic, price-variable collateral, including assets powered by Ethena, where borrowers typically pay a premium that creates the potential for higher market-determined yields. Coinbase said it is working with [Ethena](https://ethdaily.io/618) to drive growth for the vault. The High Yield option joins the existing Core USDC vault, which lends against blue chip collateral such as BTC and ETH. Both run through smart contract wallets that connect to the [Morpho protocol](https://ethdaily.io/719), allocating deposits across lending markets to optimize returns, with funds withdrawable at any time when liquidity permits. The integration first launched in September 2025 with yields reaching up to 10.8%, and remains available to Coinbase users in the U.S., excluding New York State, and select additional countries. * * * Advertise --------- [![](https://storage.googleapis.com/papyrus_images/451cc866a3d850b22fc8dd1db907f94a08090ffffe29963d21a2257b4abacfe7.png)](https://ethdaily.io/ads) The trusted Ethereum news briefing since 2022, reaching 6,000+ audio subscribers, 4,000+ newsletter subscribers, and 26k+ combined social followers. Want to reach the ETH Daily audience? Learn more at [ethdaily.io/ads](https://ethdaily.io/ads). * * * Disclaimer: Content is for informational and educational purposes only and does not constitute financial, investment, legal, or other professional advice. No representations or warranties are made as to accuracy, completeness, or timeliness. Use of this content is at your own risk, and you should consult a qualified professional before making decisions. No fiduciary or advisory relationship is created --- *Originally published on [ETH Daily](https://ethdaily.io/coinbase-adds-high-yield-usdc-vault)*