On-chain asset manager Maple launches syrupUSDG on Robinhood Chain. This new asset will allow users to access Maple’s institutional credit strategy through USDG, a regulated stablecoin issued by Paxos on behalf of the Global Dollar Network.
At the same time, Steakhouse Financial, a decentralized risk management company, approved Syrup USDG as collateral for a vault used on Robinhood Earn. The lending product will be 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, and the investor’s profit is derived from the interest paid by the borrower.
This new asset expands Maple’s syrup product line, which already includes syrupUSDC and syrupUSDT. Users can validate loan, collateral, and allocation data on-chain through Maple’s Proof of Reserves system. syrupUSDG is currently available on Ethereum and Robinhood Chain, with support for more blockchains planned for the future.
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