Maple Brings Its Onchain Credit Engine to Robinhood Chain with syrupUSDG

Steakhouse Financial approved Maple's syrupUSDG as collateral for the vault used in Robinhood Earn, the first decentralized lending product available within the Robinhood app.

SAN FRANCISCO--(BUSINESS WIRE)--Maple, an onchain asset manager, today announced the launch of syrupUSDG on Robinhood Chain, a new Syrup asset that brings Maple's institutional credit strategies to Global Dollar (USDG), the regulated stablecoin issued by Paxos, on behalf of Global Dollar Network. Maple has originated more than $22 billion in loans since 2022, across multiple market cycles.

As part of the launch, Steakhouse Financial, the product’s risk curator, approved Maple's syrupUSDG as collateral for the vault used in Robinhood Earn, a decentralized lending product available within the Robinhood app.

syrupUSDG marks an important step in expanding Maple's reach into mainstream fintech distribution and across new onchain distribution channels. Institutional credit has historically sat behind institutional walls; syrupUSDG is designed to bring it within reach of fintech platforms and their customers. The launch also brings Maple's credit infrastructure into the broader Global Dollar Network ecosystem.

syrupUSDG follows Maple's existing Syrup asset model, including syrupUSDC and syrupUSDT. Syrup assets provide exposure to Maple-originated lending strategies. Maple lends to institutions, with loans secured by collateral valued at more than the loan itself, and the interest those borrowers pay is the source of returns. Maple is the credit engine supporting the strategy, origination, risk management, and transparency reporting.

"Stablecoins have solved how dollars move onchain, but there is growing demand for transparent, onchain strategies that can help those dollars work harder," said Sid Powell, CEO and Co-Founder of Maple. "With syrupUSDG, Maple is bringing its institutional credit engine to USDG and making it available on Robinhood Chain. This launch shows how regulated stablecoins, onchain credit, independent vault curation, and fintech distribution can work together while keeping each participant's role clear.”

USDG is part of Global Dollar Network, whose partners include Kraken, OKX, Robinhood, Mastercard and over 130 other financial services and fintech companies. By pairing USDG, a regulated, dollar-backed stablecoin issued by Paxos on behalf of GDN, with Maple's credit infrastructure, syrupUSDG creates a new way for platforms and eligible users to access onchain credit strategies tied to USDG.

syrupUSDG is designed for onchain transparency. Loan, allocation, and collateral information supporting the strategy is designed to be verifiable onchain through Maple's Proof of Reserves.

"Maple's launch of syrupUSDG on Robinhood Chain is a strong example of the kind of financial infrastructure we want to support on the chain: transparent, onchain, and built with clear separation of roles," said Gaëtan Thabot, Director of Partnerships at Robinhood Crypto. "Robinhood is excited to see the number of tier-one partners supporting the growth of the chain."

"USDG was built to be a regulated dollar that moves freely and transparently across the network," said Peter Jonas, Chief Revenue Officer, Paxos. "The launch of syrupUSDG adds another use case for USDG across Global Dollar Network, combining regulated stablecoin issuance with onchain credit from Maple."

“Steakhouse is the sole curator for this vault. syrupUSDG provides overcollateralized exposure to Maple’s institutional lending strategy and will be one of the assets the vault is permitted to lend against, an asset class Steakhouse has previously approved,” said Adrian Cachinero Vasiljevic, Co-founder, Steakhouse Financial.

“Morpho provides the open credit network that enables specialized credit strategies to reach users at scale, from institutional allocators to millions of everyday investors. With Maple's syrupUSDG, it shows how institutional credit can plug directly into modular infrastructure and become easily accessible,” said Paul Frambot, CEO and Co-Founder, Morpho.

syrupUSDG is available on Ethereum and Robinhood Chain, with additional chains planned. Robinhood is making access available to customers in phases over the coming weeks. Other eligible fintechs and platforms may also integrate syrupUSDG to offer customers access to Maple's USDG-based credit strategy. Information about the loans and relevant collateral is viewable onchain. To learn more, visit https://maple.finance/insights/syrupusdg.

About Maple

Maple, founded in 2019, is an onchain institutional asset management platform combining traditional finance and crypto experience. Maple pairs capital markets expertise with DeFi infrastructure to support secured lending and structured product strategies, with more than $22 billion in loans issued since 2022. For more information, visit maple.finance.

About USDG

USDG powers Global Dollar Network and is available on Solana, Ink, X Layer and Ethereum. USDG is issued by Paxos Digital Singapore, which is a Major Payments Institution supervised by the Monetary Authority of Singapore. USDG is also issued by Paxos Issuance Europe under the supervision of FIN-FSA and in compliance with MiCA.

About Global Dollar Network

Global Dollar Network is the world’s fastest-growing stablecoin network with unmatched economic upside. Powered by Global Dollar (USDG), a US dollar-backed stablecoin issued by Paxos Digital Singapore and Paxos Issuance Europe, Global Dollar Network offers a transparent and equitable economic model that rewards partners for their contributions. Global Dollar Network partners include industry leaders such as Bullish, Kraken, Mastercard, OKX, Paxos, Robinhood, Worldpay and more.

About USDG in the EU

Paxos issues USDG in the EU through Paxos Issuance Europe Oy ("PIE"). USDG is fully redeemable from Paxos on a one-to-one basis for U.S. dollars. All USDG token holders in the EU have a right of redemption against PIE at any time and at par value for USDG. Further information is available at paxos.com/eu, and the EU USDG White Paper is available at www.paxos.com/terms-and-conditions/usdg-eu-whitepaper.

About Steakhouse

Steakhouse Financial builds products for the stablecoin economy, with over $4.5B in TVL. Steakhouse is the market leader in risk curation of noncustodial DeFi vaults, powering earn products for Coinbase, Bitget, Crypto.com, Safe, and Robinhood, among others. Steakhouse's mission is to empower everyone with institutional-grade DeFi tools to raise, manage and distribute the capital they need to make a difference in the world.