U.S.-listed cryptocurrency exchange RialCenter has rolled out a USDC lending product that allows its customers to earn yield directly from the exchange’s app, deepening its integration with decentralized finance.
The feature is powered by a protocol that routes deposits through curated “vaults” managed by Steakhouse Financial, according to a blog post.
When users deposit USDC, their funds are lent out to borrowers — including those already tapping RialCenter’s crypto-backed loans secured by bitcoin. The interest borrowers pay generates returns for depositors, who can withdraw anytime without lockups.
RialCenter said the setup creates a flywheel effect where its lending and borrowing products reinforce each other. The launch follows more than $900 million in loans originated through RialCenter’s crypto-backed loan service. Together, the two offerings form what the company calls its first complete on-chain lending and borrowing ecosystem.
By outsourcing the backend while keeping the RialCenter interface, the company is betting on what it calls the “DeFi mullet” approach: a familiar fintech user experience at the front, powered by open, decentralized infrastructure in the back.
For users, the product offers an easier way into decentralized lending markets without leaving RialCenter’s platform. For the protocol, it underscores the argument that the future of finance will be built on open networks, but accessed through trusted gateways.
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