Robinhood Chooses Morpho to Power New Earn Product
Morpho now powers the infrastructure behind some of the most widely used retail financial platforms in the United States, bringing more options for onchain yield to millions of customers through the apps they already use.
Morpho, the open blockchain-based credit network, today announced it will power Robinhood’s new Earn product, enabling Robinhood's millions of eligible users more options to earn yield onchain via a self-custody wallet, directly within the Robinhood app. The product will roll out progressively to Robinhood's US customer base over the coming weeks.
The Robinhood Earn 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.
Morpho operates as an open network on the blockchain. Lenders and borrowers compete in real time, helping create more efficient markets and enabling financial products with better rates and terms for users.
