Maple's onchain credit engine comes to Robinhood Chain, bringing institutional credit strategies to Global Dollar (USDG) and into the hands of fintech platforms and their customers.
Today we're launching syrupUSDG – and with it, Maple’s first move into mainstream fintech distribution. It’s also our first new Syrup asset in two years, building on the model behind syrupUSDC and syrupUSDT, and it goes live on Robinhood Chain. We've originated over $22 billion in loans since 2022, across multiple market cycles, and that track record now comes to USDG.
As part of the launch, Steakhouse Financial, the product’s risk curator, approved Maple's syrupUSDG as collateral for the vault behind Robinhood Earn – the first decentralized lending product available within the Robinhood app.
Gaëtan Thabot, Director of Partnerships at Robinhood Crypto, said:
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. Robinhood is excited to see the number of tier-one partners supporting the growth of the chain.
Where the returns come from
Returns on syrupUSDG come from lending. Maple lends to institutions, with every loan secured by collateral worth more than the loan itself (overcollateralized), and borrower interest is the source of returns. Syrup assets give holders exposure to Maple-originated strategies, with Maple handling strategy, origination, risk management, and transparency reporting.
Adrian Cachinero Vasiljevic, Co-founder, Steakhouse Financial, said:
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.
Into the mainstream
Institutional credit has historically operated behind closed doors – accessible to institutions, but typically out of reach for the fintech platforms and everyday customers operating outside them. syrupUSDG is Maple’s first step in changing that, bringing institutional-grade credit to a mainstream consumer platform.
Sid Powell, CEO and Co-Founder, Maple, said:
Stablecoins have solved how dollars move onchain, but there is growing demand for transparent, onchain strategies that can help those dollars work harder. 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.
Built for verification
Loan, allocation, and collateral data is verifiable via Maple's Proof of Reserves, so platforms and users can see what backs the strategy. Each partner’s role is distinct: Maple provides credit-backed returns, Paxos provides regulated issuance, Steakhouse curates the vault, Morpho provides the vault infrastructure, and Robinhood brings distribution to millions of users.
Paul Frambot, CEO and Co-Founder, Morpho, said:
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.
Built for where digital dollars already live
USDG is part of Global Dollar Network, whose partners include Kraken, OKX, Robinhood, Mastercard, and over 130 other financial services and fintech companies. syrupUSDG gives this network a new way to access onchain credit tied to USDG – and a repeatable model for the platforms that follow.
Peter Jonas, Chief Revenue Officer, Paxos, said:
USDG was built to be a regulated dollar that moves freely and transparently across the network. The launch of syrupUSDG adds another use case for USDG across Global Dollar Network, combining regulated stablecoin issuance with onchain credit from Maple.
What this means for the ecosystem
- Lenders get the same credit engine as syrupUSDC and syrupUSDT, with reserves verifiable onchain via Proof of Reserves.
- Borrowers gain a large new source of demand, with mainstream flows channeled into USDG and scalable liquidity in regulated dollars.
- SYRUP holders benefit from a repeatable distribution model: each new channel adds AUM, lending activity, and revenue opportunities.
- DeFi, CeFi, and fintech partners gain an embeddable credit layer, offer returns from institutional credit without building an in-house credit desk — while maintaining the customer relationship.
This is just the start
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 can integrate syrupUSDG to offer credit-backed returns in a regulated dollar, without setting up a credit desk. Loan and collateral data is viewable onchain throughout.
Get in touch with our team to discover more.
Not available in all jurisdictions; eligibility restrictions apply; not an offer or solicitation where prohibited; capital at risk
Joe Flanagan
Chairman and Co-Founder
Joe Flanagan is the Co-Founder and Executive Chairman at Maple. Joe is responsible for Maple's overall strategy and growth.
