Morpho DeFi Lending Protocol Integrates Into Robinhood App's Earn Feature

Jul 9, 2026

Robinhood launches Robinhood Earn for eligible U.S. users, allowing them to lend the USDG stablecoin onchain via self-custody wallets. Powered by Morpho's vault infrastructure, which manages over $10.71 billion in deposits, the product offers an estimated 7% variable APY. Insurance is arranged through Lloyd's of London and RELM to cover defined risks, though users face variable market rates and lending risks.

Robinhood Earn product launch

▪Robinhood reported serving nearly 28 million customers across 38 countries globally.
▪On July 1, 2026, Robinhood announced the rollout of Robinhood Earn to eligible United States users.

Morpho protocol vault infrastructure

▪On July 8, 2026, Morpho's dashboard showed approximately 10.71 billion dollars in total deposits, 3.87 billion dollars in active loans, and 6.84 billion dollars in total value locked.
▪Morpho Vaults distribute deposits across multiple Morpho Markets using strategy parameters to diversify exposure and match borrower demand.

USDG stablecoin lending mechanics

▪Robinhood Earn allows eligible United States users to lend the USDG stablecoin onchain.
▪Deposits from Robinhood Earn flow into Morpho Vaults and are allocated across Morpho Markets to source lending demand.

Self-custody wallet implementation

▪Robinhood Earn operates through a self-custody wallet within the Robinhood application, requiring users to control their own keys.
▪Users must hold or convert funds into the USDG stablecoin within their self-custody wallet to participate in Robinhood Earn.

Lloyd's insurance coverage terms

▪Insurance for the Robinhood Earn program is arranged through Lloyd’s of London and RELM.
▪The insurance coverage for Robinhood Earn targets defined risks with specific limits and exclusions, rather than covering market losses.

Variable APY risk factors

▪Robinhood Earn offers an estimated variable annual percentage yield of approximately 7% on the USDG stablecoin.
▪The yield on Robinhood Earn is variable and depends on borrower demand, market conditions, and available liquidity.