Morpho, the open blockchain-based credit network, has been selected by Robinhood to underpin its newly launched Earn product, giving the trading platform’s millions of eligible customers additional ways of generating onchain yield through a self-custody wallet inside the Robinhood app.
The new offering is designed to deliver risk-adjusted returns on idle balances via USDG, a stablecoin pegged to the US dollar. Within the setup, Morpho functions as the credit network beneath the product, Steakhouse Financial oversees the vault infrastructure, and Robinhood Chain provides settlement. The feature will be introduced gradually to Robinhood’s American user base in the weeks ahead.
Under the mechanics of the product, USDG placed through Robinhood Earn flows into a Morpho Vault before being distributed across Morpho Markets. Yield comes from interest paid by borrowers, who pledge collateral drawn from protocols such as Spark, Ethena and Maple to take out USDG loans.
Morpho runs as an open network on the blockchain, where lenders and borrowers compete in real time. This dynamic is intended to foster more efficient markets and support financial products offering improved rates and terms.
The company describes itself as an onchain lending network holding more than $11bn in deposits, linking lenders and borrowers with optimal opportunities globally. Its modular, open infrastructure allows FinTechs, wallets, exchanges and institutions to embed configurable credit products into their own platforms while retaining full ownership of the user experience.
Morpho co-founder Paul Frambot said, “Robinhood is the platform that made investing accessible to a generation, and we are very excited to partner with them to bring the benefits of onchain finance to their mainstream customer base.
“Decentralized finance technology works best as infrastructure, allowing brands and institutions to offer products that are more open, more transparent and more competitive than those built on traditional financial rails.”
Robinhood Crypto director of partnerships Gaëtan Thabot said, “We believe everyone should have access to the most efficient and innovative financial tools available.
“By leveraging Morpho’s open credit network alongside USDG and Robinhood Chain, we are giving our eligible users the ability to seamlessly access the competitive advantages of decentralized finance. We’re thrilled to empower our eligible users with a simple, robust way to put their digital assets to work.”
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