Brix Money launches wiTRY-USDM, the first onchain FX carry market, allowing retail use of Turkish Lira yield collateral to borrow stablecoins via Morpho.
DeFi & Yields ·
BRIX Money launched wiTRY-USDM, described as the first onchain foreign exchange carry market, on July 29, 2026. The product allows users to deposit wiTRY—a Turkish Lira yield-bearing token—as collateral to borrow USDM stablecoins through a Morpho lending market operated by Featherlend and powered by MegaETH. The mechanism extends access to carry-trade strategies, which previously remained available primarily to institutional participants.
Carry trades exploit interest-rate differentials between currencies or assets by borrowing in lower-yield environments and lending in higher-yield ones. By tokenizing Turkish Lira exposure onchain and pairing it with a stablecoin borrowing market, wiTRY-USDM allows retail users to structure similar positions without off-chain infrastructure or institutional intermediaries. The deployment integrates three separate teams: BRIX Money, Featherlend, and MegaETH.
The announcement does not specify initial collateralization requirements, borrowing limits, or risk parameters for the wiTRY-USDM market. It remains unclear whether additional FX pairs or carry-trade markets are planned, and no details were provided on wiTRY's underlying yield source or redemption mechanics.