Shortly after obtaining the first MiCA license in France, neobank Deblock has just launched savings vaults offering up to 6% returns on your euros thanks to DeFi. But how does it work?
Deblock unveils its savings “vaults” and opens DeFi to the French public
Crypto neobank Deblock continues its strategy of integrating decentralized finance into the traditional banking experience. The French fintech, which now claims more than 200,000 downloads since its launch in 2024, has just announced the launch of its “savings vaults,” a product that allows its customers to generate up to 6% annual returns, directly in euros.
For this new offering, Deblock has partnered with two well-established DeFi protocols, Morpho and Yield.xyz. The goal with these coffers is to offer individuals simple and secure access to the yield opportunities of decentralized finance, without the constraints usually associated with on-chain protocols.
“Where previously multiple platforms, external wallets, and complex manipulations were required, Deblock offers everything in one seamless and secure application,” summarizes Jean Meyer, CEO of Deblock.
The process is deliberately streamlined: users deposit their euros starting from just €1. The funds are then converted into stablecoins and invested in partner protocols. The returns generated are automatically transferred back into euros to the user’s Deblock account.
A product designed for the French consumer market
Launched a few months after Deblock obtained the first MiCA approval in France, this savings product complements the neobank’s objective: to democratize the use of cryptocurrencies while complying with a strict regulatory framework.
Unlike traditional DeFi products, which are often reserved for experienced users, Deblock vaults are aimed at a broad target audience. There is no minimum commitment period, deposits and withdrawals can be made at any time, and the entire process remains completely invisible to the end user.
“Deblock removes all the complexity of DeFi for its users, offering them magical one-click access to the best returns via Morpho,” said Paul Frambot, CEO of Morpho Labs.
