Pendle Finance has introduced a fixed-yield market for the USDG stablecoin on the Robinhood Chain. The product, which launched on September 30, 2026, allows users to secure a predetermined return on assets backed by US Treasury bills, with a maturity date set for March 2027.
Previously, Robinhood Earn provided yield on USDG via Morpho lending vaults, where rates fluctuated around 7% APY based on market conditions. The new integration utilizes Pendle’s yield tokenization mechanism, which splits assets into principal and future yield tokens to lock in rates at the time of purchase.
USDG is issued by Paxos and regulated in Singapore and Europe. It is part of the Global Dollar Network, a consortium including Robinhood and Kraken that uses a revenue-sharing model. The network distributes yield from reserve assets, which consist of USD reserves and short-term US Treasury securities.
Pendle deployed its protocol on the Robinhood Chain on September 4, 2026, following the launch of the chain itself on July 1, 2026. This fixed-yield offering is the first of its kind for the protocol within the Robinhood ecosystem, providing an alternative to variable-rate lending products.
