Robinhood Chooses Morpho to Power New Earn Product
Morpho is powering Robinhood Earn, enabling eligible Robinhood customers more options to earn yield onchain via noncustodial wallets, directly within the Robinhood app.
The product aims to provide risk-adjusted yield on idle balances using USDG, a dollar-pegged stablecoin. Morpho serves as the underlying credit network, Steakhouse Financial curates the vault infrastructure supporting the product, and Robinhood Chain acts as the settlement layer. The product is delivered through a seamless experience in the Robinhood app and will roll out progressively to Robinhood's US customer base.
How the stack works
- USDG supplied through Robinhood Earn is deposited into a Morpho Vault and allocated across Morpho Markets.
- Borrowers provide collateral from protocols including Spark, Ethena, and Maple in order to borrow USDG, with yield generated from the interest they pay.
- Morpho operates as an open network on the blockchain where lenders and borrowers compete in real time, helping create more efficient markets and better terms for users.
"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," said Paul Frambot, Co-founder of Morpho. "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."
With this integration, Morpho serves as core credit infrastructure for some of the most widely used retail financial platforms in the United States—another step toward bringing onchain finance to mainstream retail users.