On-chain asset supervisor Maple launches syrupUSDG on Robinhood Chain. This new asset will enable customers to entry Maple's institutional credit score technique via USDG, a regulated stablecoin issued by Paxos on behalf of the International Greenback Community.
On the identical time, Steakhouse Monetary, a decentralized danger administration firm, authorized Syrup USDG as collateral for a vault used on Robinhood Earn. The lending product can be rolled out to Robinhood customers in levels over the approaching weeks.
Maple mentioned it has originated greater than $22 billion in institutional loans since 2022. All loans are backed by collateral value greater than the mortgage quantity, and the investor's revenue is derived from the curiosity paid by the borrower.
This new asset expands Maple's syrup product line, which already consists of syrupUSDC and syrupUSDT. Customers can validate mortgage, collateral, and allocation knowledge on-chain via Maple's Proof of Reserves system. syrupUSDG is presently accessible on Ethereum and Robinhood Chain, with assist for extra blockchains deliberate for the long run.
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