Ethena’s first product with Coinbase is now live and brings a $USDe powered vault with high returns for Coinbase users.
The first product in the Ethena ✦ Coinbase collaboration is now live.
The @SteakhouseFi High Yield Vault has officially launched on @Coinbase, powered by $USDe on @Morpho.
Coinbase’s user base can now access best-in-class savings rates through the Vault, live in the… pic.twitter.com/xYG7gGW8mJ
— Ethena (@ethena) June 11, 2026
https://x.com/ethena/status/2065147131070210236?s=20
https://x.com/ethena/status/2065147131070210236?s=20The Steakhouse High Yield Vault has launched in the Coinbase app, with the help of Ethena’s $USDe via Morpho, according to Ethena. The product gives Coinbase users access to a higher-yield lending option backed by a broader mix of assets.
Coinbase said users can now choose between two lending products. Prime is backed by blue chip assets such as Bitcoin and Ethereum, while High Yield offers higher potential returns through a broader collateral base, including assets powered by Ethena.
The launch marks the first live product from the partnership between Ethena and Coinbase. Ethena said the vault is available to Coinbase users in the US and abroad.
The rollout expands Coinbase’s commitment to bringing more onchain yield products to the main app, while giving Ethena access to one of the largest retail user bases in crypto.