Morpho, an open blockchain-based credit network, will power Robinhood's new Earn product, enabling millions of eligible US users to earn yield through a self-custody wallet within the Robinhood app. The product will roll out progressively over the coming weeks. Robinhood Earn provides risk-adjusted yield on idle balances using USDG, a dollar-pegged stablecoin. Morpho serves as the underlying credit network, whilst Steakhouse Financial curates the vault infrastructure and Robinhood Chain acts as the settlement layer. USDG is deposited into a Morpho Vault and allocated across markets where borrowers provide collateral from protocols including Spark, Ethena and Maple. The announcement follows Morpho's recent $175 million funding round, bringing total funds raised to over $250 million. Morpho currently has over $11 billion in deposits.

BitGo is expanding institutional access to decentralised finance through a new DeFi vault offering developed with third-party infrastructure providers and risk managers. Launch partners include Morpho, a decentralised lending infrastructure protocol. The offering will enable eligible institutional clients to access third-party vaults and predefined onchain strategies through specialised partners. Independent risk managers will set strategy and risk parameters, whilst infrastructure providers supply the underlying vault architecture and onchain execution systems. Vault participation and custody of vault receipt tokens will be integrated with BitGo Bank & Trust, the company's OCC-chartered national trust bank. When client assets are transferred to third-party vaults, they deploy outside BitGo's custody environment, whilst the bank supports custody of corresponding vault receipt tokens. BitGo plans to expand the offering with additional providers and protocol integrations over time.

Zama, Morpho, and Steakhouse Financial are launching the first confidential DeFi yield product on Ethereum, opening for deposits on 23rd June. The vault allows users to earn yield on encrypted USDC without exposing balances or strategy onchain. Zama's cUSDC uses fully homomorphic encryption to shield balances and transfer amounts whilst maintaining auditability and compliance checks. The encrypted tokens deposit into Morpho vaults, specifically Steakhouse's USDC Prime vault. Whilst targeting institutions, the product appears accessible to retail users subject to screening and jurisdictional restrictions. Zama is running a launch campaign until 22nd June, with deposits of $10 or more entering users into a prize draw. The system encrypts balances but supports auditability and compliance checks, distinguishing it from mixing services.