Lloyds Backs Robinhoods DeFi Lending With Loss Coverage

Lloyd's of London is providing insurance coverage for Robinhood's new decentralized finance (DeFi) lending product, called Robinhood Earn.

The insurer will cover losses on deposits made directly from the main app into a self-custody wallet with lending running on Morpho.

The lending product offers 7% APY on USDG deposits and its interest rate adjusts based on loan demand to maintain stability over time.