Robinhood Launches Robinhood Chain and Brings DeFi Yield Into Its App

Robinhood's Ethereum layer-2 network went live on July 1, and its first in-app earn product pays yield on the USDG stablecoin through Morpho's onchain credit markets, with Steakhouse curating and Ethena among the collateral.

Robinhood Launches Robinhood Chain and Brings DeFi Yield Into Its App Robinhood's Ethereum layer-2 network went live on July 1, and its first in-app earn product pays yield on the USDG stablecoin through Morpho's onchain credit markets, with Steakhouse curating and Ethena among the collateral. Aaron Rafferty July 01, 2026 Key Takeaways Robinhood Chain, an Ethereum-compatible layer-2 network, went live on mainnet July 1, with 24/7 tokenized stocks and onchain lending. Robinhood Earn lets users earn yield on USDG stablecoin balances from a self-custody wallet inside the app, powered by Morpho, curated by Steakhouse, and settled on Robinhood Chain. Borrowers post collateral from Spark, Ethena, and Maple, and reports put the yield around 7 percent. Robinhood is not waiting for crypto to come to it. On July 1 the brokerage turned on Robinhood Chain, its own Ethereum-compatible layer-2 network, and used it to launch the first decentralized lending product built directly into the Robinhood app, according to CoinDesk and The Block . The consumer piece is Robinhood Earn. Users can put idle USDG, a dollar-pegged stablecoin, into a self-custody wallet and earn yield on it without leaving the app. Under the hood the money runs through Morpho, the onchain credit network, with Steakhouse Financial curating the vault and Robinhood Chain settling the transactions, per a Business Wire release . Deposits are lent across Morpho markets, and borrowers post collateral from protocols including Spark, Ethena, and Maple. Reports put the yield around 7 percent, and the product rolls out to US customers over the coming weeks. "Decentralized finance technology works best as infrastructure" Paul Frambot, co-founder, Morpho The bigger story is what Robinhood Chain signals. A mainstream brok