- Robinhood began rolling out 'Earn' on July 1, 2026, offering eligible US users an estimated 7% APY on the dollar-backed stablecoin USDG.
- The yield is generated via the Morpho protocol, where retail deposits fund institutional borrowers, including market makers and liquidity providers.
- To mitigate decentralized finance risks, the product includes a bespoke insurance program backed by Lloyd's of London and RELM covering smart contract and cyber exploits.
Quotes
“this borrower demand, not any Robinhood subsidy, generates the target rate.”