Seamless Protocol migrates lending infrastructure to DeFi protocol Morpho

The DeFi lending protocol Seamless, today announced the migration of its entire infrastructure to Morpho, a decentralized lending protocol managing over $500 million in liquidity on Coinbase-incubated Base and $2.4 billion on Ethereum.

The transition, approved by the Seamless DAO in early 2025, transforms Seamless into a “platformless” DeFi venue built on Morpho’s permissionless infrastructure.

“We’re using existing liquidity to fuel future product developments such as Leverage Tokens which tap into Base liquidity sources,” said Wes Frederickson, Seamless Co-Founder and CTO. “As the first to go fully platformless, we’re proving that less infrastructure means more value for borrowers. This is Seamless 2.0.”

Paul Frambot, co-founder and CEO of Morpho Labs, said:

“Seamless’s vision is backed by Morpho’s permissionless and immutable infrastructure. The Morpho Stack allows the Seamless team to focus on product innovation and growth.”

The Seamless ecosystem currently serves over 200,000 wallets with $70 million in TVL.

The platform’s 2025 product roadmap includes leverage tokens, expanded borrowing products, and real-world asset integrations.

In January, Coinbase reintroduced Bitcoin-backed loans through a partnership with Morpho’s DeFi platform, allowing users to borrow up to $100,000 in USDC.

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