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A better user experience can be created by having fintech at the front and DeFi at the back, also known as a “DeFi mullet.”
Updated Mar 26, 2025, 9:39 a.m. UTCPublished Mar 26, 2025, 3:00 p.m. UTC
TruBit, a Latin America-based cryptocurrency exchange with regulatory licenses in Mexico and Argentina, is offering users in the region a decentralized finance (DeFi) yield product powered by crypto lender Morpho.
Catering to a growing demand for crypto-backed lending, this move by retail exchanges is all about creating an easy way for users to interact with decentralized, automated lending and borrowing, a so-called “DeFi mullet” (fintech on the front end, DeFi at the back).
Morpho’s TruBit partnership follows the DeFi lending protocol’s announcement earlier this year with Coinbase, to offer bitcoin-backed loans.
“We think that fintech at the front and DeFi at the back is really the way DeFi will scale,” said Morpho co-founder Merlin Egalite in an interview. “If you look at the DeFi landscape right now it's still quite nerdy and technical. Integrating DeFi into fintech companies provides a less cumbersome and more familiar user experience.”
Ian Allison
Ian Allison is a senior reporter at CoinDesk, focused on institutional and enterprise adoption of cryptocurrency and blockchain technology. Prior to that, he covered fintech for the International Business Times in London and Newsweek online. He won the State Street Data and Innovation journalist of the year award in 2017, and was runner up the following year. He also earned CoinDesk an honourable mention in the 2020 SABEW Best in Business awards. His November 2022 FTX scoop, which brought down the exchange and its boss Sam Bankman-Fried, won a Polk award, Loeb award and New York Press Club award. Ian graduated from the University of Edinburgh. He holds ETH.
