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
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