Robinhood stock tokens go live on Morpho as loan collateral

Robinhood's integration with Morpho enhances DeFi liquidity options, potentially spurring innovation and expanding decentralized finance ecosystems.

Robinhood Markets logo (Wikimedia Commons, public domain)
Non-US holders can borrow USDG against tokenized NVDA, SPY and SPCX on Robinhood Chain without selling their positions
Thu 22 Oct 2026 · 11:50 EDT · 2 min read
In Stocks
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Robinhood stock tokens can now be used as collateral on Morpho, letting holders borrow stablecoins against tokenized equities without selling them. The markets went live on October 22, 2026.
Users can borrow USDG, a dollar-pegged stablecoin, against tokenized shares including NVDA and SPY. The loans run through isolated markets on Robinhood Chain, the company’s newly launched network, with Morpho serving as the underlying open credit network. Curators set the compliance controls on each market.
The product is available only to non-US persons and jurisdictions because of regulatory restrictions.
At launch, NVDA and SPCX carry a 62.5% liquidation loan-to-value threshold, while SPY carries a 77% threshold. Once a borrower’s debt reaches that share of the collateral’s value, the position can be liquidated, so a sharp drop in NVDA could push a loan past the 62.5% line.
The tokens provide economic exposure to the underlying shares but carry no voting rights or direct ownership.
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Robinhood deepens Morpho ties as Earn tops $1 billion
The launch extends a partnership that began in July 2026, when Morpho’s infrastructure started powering Robinhood Earn, a yield product for USDG deposits. Robinhood Earn drew more than $1 billion in deposits by mid-October.
Robinhood Chain went live on mainnet on July 1, 2026. It recorded about $15 billion in cumulative stock token trading volume as of October 12 and has drawn approximately 200,000 stock token holders.
Because Morpho operates as an open credit network, external applications can integrate with the new markets, which could allow third-party developers to build products on top of the tokenized stock collateral.
Disclosure: This article was edited by Vivian Nguyen. For more information on how we create and review content, see our Editorial Policy.