Wintermute, one of the largest crypto market makers by trading volume, has launched Armitage, a vault curation service on Morpho. The service went live on May 19, 2026, with two USDC-denominated vaults, and had reached 145 million dollars in deposits by early October 2026, positioning it among Morpho’s largest vault curators by assets under management. In September 2026, the platform expanded with USDT vaults targeting annual yields of 3 to 5 percent. Armitage’s competitive advantage lies in Wintermute’s ability to handle liquidations internally through its trading desk infrastructure, allowing it to support collateral types that other curators avoid. The platform operates on a non-custodial basis with no management or performance fees at launch and no KYC requirement.
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