Armitage Expands into USDT Lending on Morpho

Armitage, the vault curation division of crypto market maker Wintermute, has expanded its offerings on the Morpho platform to include USDT lending. This move marks a shift from their initial focus on USDC-only vaults and signals a broader push into multi-stablecoin DeFi yield products.

The new USDT Prime vault targets an annual percentage yield of 3-4% with zero management or performance fees, setting it apart from competitors that often charge a significant portion of generated yield as a fee.

Armitage first appeared on the scene in May 2026 with a pair of USDC vaults on Morpho, using Wintermute's liquidation engine as the safety net underneath. The team has reportedly accumulated $51.8 million in total assets under management across its Morpho vaults since late August 2026.

The expansion into USDT lending is significant because it effectively doubles Armitage's addressable market by offering vaults denominated in both USDC and USDT, two of the most widely used stablecoins. By doing so, Armitage is positioning itself to capture a larger share of DeFi yield products.

Wintermute's DeFi infrastructure play through Armitage gives it a direct presence in DeFi's lending layer, allowing for more efficient and streamlined operations.