cryptonews.net
Maple, an onchain asset manager, has launched syrupUSDG on Robinhood Chain. The new asset gives users access to Maple’s institutional credit strategies through USDG, a regulated stablecoin issued by Paxos on behalf of Global Dollar Network.
At the same time, Steakhouse Financial, a decentralized risk management firm, approved syrupUSDG as collateral for the vault used in Robinhood Earn. The lending product is being rolled out to Robinhood users in stages over the coming weeks.
Maple said it has originated more than $22 billion in institutional loans since 2022. All loans are backed by collateral worth more than the loan amount, while investor returns come from the interest paid by borrowers.
The new asset expands Maple’s Syrup product line, which already includes syrupUSDC and syrupUSDT. Users can verify loan, collateral, and allocation data onchain through Maple’s Proof of Reserves system. syrupUSDG is currently available on Ethereum and Robinhood Chain, with support for more blockchains planned later.
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