TL;DR: Morpho is powering Robinhood Earn, enabling Robinhood's millions of eligible customers more options to earn yield onchain via noncustodial wallets, 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.

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 the yield generated from the interest they pay.

"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 now serves as a core credit infrastructure for some of the most widely used retail financial platforms in the United States. The launch marks another significant step for Morpho toward bringing onchain finance to mainstream retail users.

Robinhood is one of the most recognized retail investing platforms in the US and expanding internationally.

"We believe everyone should have access to the most efficient and innovative financial tools available,” said Gaëtan Thabot, Director of Partnerships at Robinhood Crypto. “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."