Safe users can access to EUR CoinVertible (EURCV) for lending and borrowing, seamlessly earn yield within their Safe Wallet, via Kiln's Widget powered by Steakhouse on a Morpho vault.
For European users holding stablecoins, the choice has been frustrating: hold USD-denominated assets and accept currency risk, which in 2025 offset the yield on dollars due to the dollar weakening against the Euro by 12%, or hold Euro stablecoins and accept zero yield. Today, that changes.
Kiln is powering Safe's launch of EUR CoinVertible yield vaults, bringing institutional-grade DeFi yield infrastructure to the world's most trusted smart contract wallet. Safe users can now earn yield on SG-FORGE-Euro stablecoins, managing their assets via Safe's interface.
Why Euro-denominated stablecoin yield matters for users
Today, most DeFi yield opportunities are denominated in USD, and for many European businesses, DAOs, and individuals this creates currency exposure. Euro stablecoins solve this, but until now, they've been largely dormant assets, seeing much smaller adoption, largely due to tighter regulatory approaches to stablecoin backing in the EU.
EUR CoinVertible changes that equation offering the stability users need. This stablecoin is designed to comply with the EU's Markets in Crypto-Assets (MiCA) regulation, positioning it as one of the few Euro stablecoins prepared for Europe's evolving regulatory framework.
For businesses managing treasury operations or DAOs holding community funds, knowing that your stablecoin issuer is a regulated entity subject to European banking standards provides reassurance that's difficult to find in crypto.
For the first three months, users can earn a fixed yield of 10% APY on EUR CoinVertible deposits, significantly outperforming traditional Euro savings rates and most money market funds. As the vault scales over 10M EUR CoinVertible TVL, the rate will adjust below 5% APY. This exclusive fixed-rate structure removes the uncertainty of fluctuating DeFi yields, making it easier for businesses and DAOs to plan around predictable returns on their Euro holdings. This campaign boost is powered by Steakhouse Financial, one of the largest onchain curators.
Safe: the security standard for onchain assets
Safe has earned its position as the most trusted smart contract wallet in crypto, with over 60 million Safe accounts securing more than $50 billion in assets. A typical Safe might require 3-of-5 signatures, meaning three designated addresses must approve before funds move, eliminating single points of failure – no single compromised private key can drain the vault.
For the EUR CoinVertible vaults, Safe provides the custody layer. Users maintain full control of their assets through their Safe multisig, while Kiln's vault infrastructure handles the yield integration and reporting layer in the background.
Kiln's vault infrastructure: bringing access to institutional-grade onchain strategies
Kiln has built its reputation providing yield management infrastructure to institutions like VanEck and CoinShares, as well as many consumer wallets in the space, with stablecoin earn products crossing $600M in TVL. The vault infrastructure powering these EUR CoinVertible strategies brings that same institutional rigor.
Kiln's vault infrastructure integrates with lending protocols, allowing companies like Safe to deploy vaults supporting leading protocols faster, with complete reporting, monetization and a low-code widget integration. The vaults handle the complexity of interacting with and maintaining DeFi protocols – tracking positions, managing risk parameters, and ensuring proper execution – so Safe users simply deposit EUR CoinVertible routed to Morpho and earn yield.
About Safe
Safe Labs GmbH builds enterprise-grade smart account infrastructure that brings Safe Smart Accounts to business and institutional use cases. Headquartered in Berlin, Germany, Safe Labs provides products and services for organizations adopting smart accounts at scale. Safe Labs GmbH is a wholly owned subsidiary of the Safe Ecosystem Foundation.
About Kiln
Kiln is the leading institutional onchain asset and yield management platform, enabling institutions to generate yield on their digital assets and empower their users with direct access to onchain yield. In 2025, Kiln surpassed $18 billion in assets delegated, providing access to diverse yield sources across 30+ PoS networks – from native staking to DeFi strategies.
Trusted by industry leaders including VanEck, CoinShares, Crypto.com, Fireblocks, Ledger, Coinbase, and Binance.US, Kiln offers a comprehensive suite of yield products with real-time reporting and monetization tools. The platform enables custodians, wallets, exchanges, and asset managers to streamline onchain asset management operations across multiple providers and protocols. Kiln is SOC 2 Type II compliant.
About Kiln
Kiln is the leading staking and digital asset rewards management platform, enabling institutional customers to earn rewards on their digital assets, or to whitelabel earning functionality into their products. Kiln runs validators on all major PoS blockchains, with over $11 billion in crypto assets being programmatically staked and running over 5% of the Ethereum network on a multi-client, multi-cloud, and multi-region infrastructure. Kiln also provides a validator-agnostic suite of products for fully automated deployment of validators and reporting and commission management, enabling custodians, wallets, and exchanges to streamline staking or DeFi operations across providers. Kiln is SOC2 Type 2 certified.
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