Robinhood Launches USDG Stablecoin With 7% APY Yield Product

Robinhood and Coinbase are competing to offer retail investors high-yield stablecoin savings products, with Robinhood launching USDG at 7% APY.

Robinhood launched USDG, a named stablecoin product carrying a 7% annual percentage yield. The product competes directly with Coinbase's matching yield offering documented in the prior period, and Robinhood separately announced plans to offer crypto perpetual contracts targeting new DeFi users.