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Bitget has launched USDGO Onchain Earn, a product that lets customers put the USDGO stablecoin into a Gauntlet-curated Morpho vault without leaving their exchange accounts, Cointribune reported. The exchange opened the service to a user base of 125 million people and advertises a promotional annual percentage rate of up to 10% that runs through December 3, 2026.
The setup removes the usual steps of moving stablecoins to a self-custody wallet and paying gas fees. When a customer subscribes, Bitget generates a dedicated onchain address and covers the transaction costs, so the experience resembles buying any other exchange product.
Also read: Stolen Bitget, Ledger and Triple-A funds traced into Zcash pools
Key facts
- Subscriptions go into a Morpho vault whose strategy and risk parameters are managed by Gauntlet; Morph supplies the ecosystem layer and Morpho the lending infrastructure.
- The promotional rate is capped at 5 million USDGO per user, and Bitget said it would confirm the promotion’s terms and funding source before launch rather than at announcement.
- USDGO is issued by Anchorage Digital Bank, a federally chartered US digital asset bank supervised by the Office of the Comptroller of the Currency; OSL Group handles branding and distribution, and Bitget is not the issuer.
- In December 2025, Bitget introduced USDT and USDC Onchain Earn through Morpho and Arbitrum, a month after integrating Morph assets into spot trading.
- Morpho reports more than $16 billion in deposits, and Gauntlet curates $1.8 billion in assets.
How the yield and the exits work
The vault earns money by lending on Morpho, so its interest rate moves with utilisation rather than sitting at a fixed level. Bitget also states that returns are not guaranteed. According to the August 31, 2026 USDGO attestation report published by Anchorage, 1,244,426,424 tokens were outstanding against $1,248,950,562 in reserve assets, a surplus of roughly $4.5 million. Money market funds made up 62% of reserves and BlackRock’s BUIDL fund another 37%.
Withdrawals carry their own conditions. There is no fixed lock-up period, but redemptions clear only when the vault holds enough liquidity and Morpho can process the request. Flexible access, in other words, does not promise instant access.
What Bitget is trading off
Bitget CEO Gracy Chen framed the launch around accessibility, arguing that users should not have to understand wallets, blockchain transactions or gas fees simply to earn on stablecoins. The technical friction is lower; the financial risk is not. A user who never opens a wallet is still exposed to lending-market conditions, vault liquidity and the terms behind the headline rate.
The move follows Bitget’s recent test of an onchain strategy for tokenized stocks, part of a pattern of wrapping onchain finance in exchange-style packaging. The appeal rests on the partners: established DeFi infrastructure sits behind a subscription screen that looks routine to a retail customer.
Why it matters
Centralised exchanges have spent years losing stablecoin balances to onchain lending protocols that pay more. Products like this one let Bitget keep those balances in-house while outsourcing the yield mechanics to Morpho and Gauntlet, and it brings a bank-issued stablecoin into a DeFi lending market that retail users previously reached only through self-custody. For the 125 million customers on the platform, the barrier to entry drops; for regulators watching stablecoin issuance and DeFi lending converge, the arrangement layers a chartered bank, a distribution partner and a curated vault into one consumer product.
What to watch
The first concrete checkpoint is Bitget’s confirmation of the promotional rate’s terms and funding source before the product goes live, followed by the December 3, 2026 expiry of the 10% offer. What the vault actually pays once the promotion ends, and how quickly redemptions clear when liquidity tightens, will show whether the exchange wrapper lives up to the pitch.
This article is not financial advice. Yields on lending-based products are variable, and crypto markets are volatile and uncertain.
Reported by Cointribune.
Source: Cointribune