ValueChain‘s SoDEX trading and wealth application has integrated Morpho, the on-chain credit network that reported more than $16 billion in deposits as of October 2026. The integration allows SoDEX users to deposit USDC into a Morpho Vault curated by Unified Labs, earning yield generated by borrowing activity across the markets to which the vault allocates. The product is live now at sodex.com/wealth.
The vault’s allocation policy, collateral parameters and risk limits are set by Unified Labs, which describes itself as Asia’s first institutional-grade risk curator focused on the intersection of real-world assets and decentralised finance. Deposits and redemptions are handled within the SoDEX interface, removing the need for a separate wallet connection or a standalone DeFi workflow.
How the product works
The earn product sits inside SoDEX Wealth and is enabled by the ValueChain-Base bridge, which routes stablecoin deposits from ValueChain’s layer-one blockchain onto the Base network where the Morpho Vault operates. Yield accrues from borrowing demand rather than from token emissions, a structural distinction that matters to institutions and advisers assessing sustainability of returns. The release did not disclose an indicative annual percentage yield or detail the specific collateral types the vault currently accepts.
May Wang, co-founder of ValueChain, framed the integration as a diversification of the ecosystem’s opportunity set further along the risk spectrum, consistent with ValueChain’s stated aim of giving self-custodial investors access to a range of on-chain financial products alongside spot and perpetuals trading and AI-powered research.
For Morpho, the deal is primarily a distribution move into Asia-Pacific. Shanshan Shui, APAC go-to-market lead at Morpho, said the integration allows the protocol to reach SoDEX and SoSoValue users inside their existing interface, rather than requiring those users to navigate to Morpho directly.
Market context
The integration illustrates a structural pattern that has accelerated across the DeFi and crypto-adjacent fintech space: protocols such as Morpho, Aave and Compound are increasingly positioned as shared yield infrastructure that product teams embed rather than replicate. Morpho’s publicly listed partners include Coinbase, Robinhood and Société Générale, which signals an appetite among regulated and semi-regulated distribution platforms to access on-chain credit yield without building the underlying credit infrastructure themselves.
From a regulatory standpoint, the product occupies a zone that regulators in multiple jurisdictions are actively examining. In the European Union, the Markets in Crypto-Assets regulation came into full application in 2024 and covers certain stablecoin and crypto-asset service activities, though pure DeFi protocols sit in a grey area pending further Commission guidance. In Singapore, where ValueChain is based, the Monetary Authority of Singapore has indicated that yield-bearing digital-asset products may attract licensing requirements depending on their structure. Neither ValueChain nor Morpho addressed the regulatory framing of the earn product in the release.
Unified Labs’ role as vault curator is the risk-management layer that makes the product viable for a broader audience. Louis Wan, co-founder and chief executive of Unified Labs, said Morpho is becoming the yield layer that fintech platforms integrate rather than rebuild, which captures the infrastructure logic of the arrangement. Whether the vault’s curated parameters are sufficient to satisfy institutional or regulated-platform risk standards will depend on how Unified Labs documents and publishes its collateral and allocation methodology over time.
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