Maple Finance, the leader in onchain asset management with $4B AUM and over $22B in loans originated, has joined Global Dollar Network and launched syrupUSDG, a new way to put USDG to work through institutional lending.

syrupUSDG is built on one of the most established institutional credit engines in DeFi. Eligible users can deposit USDG with Maple and receive syrupUSDG in return. From there, the USDG balance earns returns generated by Maple's institutional lending, with syrupUSDG remaining a liquid, transferable token users can hold or put to work across DeFi.

Maple joins the network

Maple has also joined Global Dollar Network.

GDN is an open network of more than 130 partners across exchanges, wallets, payment companies, custodians, and DeFi protocols. Network participants build on USDG and share in the rewards its reserves generate. Maple's arrival brings one of the most recognized names in onchain asset management into that group.

It also opens a new lane for the network. Maple connects USDG to institutional lending and onchain asset management at scale, deepening what a regulated dollar can support. For builders looking for avenues to put USDG to work, a credit platform of Maple's size joining the network is a strong signal.

What is syrupUSDG?

syrupUSDG is a new Syrup asset from Maple, its first in two years, extending the model behind syrupUSDC and syrupUSDT to the Global Dollar (USDG).

When an eligible user deposits USDG, Maple mints syrupUSDG, a token that represents the USDG deposited plus the returns it accrues over time. The user holds one asset, and its value reflects what accrues underneath it.

Those rewards come from real lending activity. Maple lends to vetted institutional borrowers on an overcollateralized basis, with every loan designed to be backed by collateral worth more than the loan itself, and the interest those borrowers pay is the primary source of returns. 

Maple handles origination, risk management, and transparency reporting, with loan, allocation, and reserve information designed to be verifiable onchain through Maple's Proof of Reserves. 

Why Maple built on USDG

Maple chose USDG for its combination of regulatory oversight, transparency, and reach.

Building on USDG lets Maple pair its institutional credit strategy with a regulated digital dollar and the distribution the Global Dollar Network opens up. 

A new way to earn

syrupUSDG is available on Ethereum and Robinhood Chain, with the potential for more chains to come. 

On Robinhood Chain, Steakhouse Financial selected syrupUSDG as collateral for the vault behind Robinhood's Earn, the first decentralized lending product available within the Robinhood app. Access is rolling out in phases to eligible customers.

The setup showcases a deep collaboration between the firms: Global Dollar Network provides regulated dollar access with USDG, issued by Paxos, Maple is the source providing credit-backed returns. Steakhouse curates the vault, Morpho provides the vault infrastructure and Robinhood handles distribution.

What this means for the network

Maple brings institutional-grade credit to the Global Dollar Network and gives eligible USDG holders a new, in-production way to put their dollars to work. This is exactly the integration the network was designed to attract.

To learn more about the open network powering USDG, visit the Global Dollar Network.

SyrupUSDG is not available in all jurisdictions; eligibility restrictions apply; not an offer or solicitation where prohibited; capital at risk.