Ledger Wallet routes Morpho borrowing through Ledger Signer, requiring users to approve each blockchain action on the hardware device as they move from posting collateral to taking out a loan.
The service accepts wBTC or cbBTC as collateral and offers loans in USDC or USDT. Borrowers can make repayments through the wallet, change their loan amount or collateral, and withdraw collateral. Both tokens represent Bitcoin (BTC) on Ethereum; BTC held on its own network cannot be pledged in these markets.
The loan's collateral stays in Morpho smart contracts while the position is open, with Ledger Wallet serving as the access point. Rates can change, terms differ, and access depends on the user's country.
Borrowers pay interest and face the risk of losing collateral through liquidation. Morpho says deposits in its Stablecoin Earn product can fund the lending markets and that borrowing demand may improve lender returns.
Morpho said the rollout began Oct. 7. EconoTimes previously covered the four Ethereum markets for Bitcoin-backed loans.
