Maple, the leading onchain asset manager, has launched syrupUSDT on Plasma, the payments-focused blockchain backed by Tether. This marks the first deployment of Maple’s flagship dollar-yield token outside Ethereum and a key milestone in the company’s expansion roadmap toward $5 billion AUM by year-end.
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The new deployment allows users to deposit syrupUSDT into a Midas-hosted pre-deposit vault, which opens September 16 at 9am ET. Depositors will not only earn curated yield but also receive rewards tied to Plasma’s upcoming mainnet launch and token generation event (TGE).
Maple’s Growth Momentum
The expansion to Plasma follows Maple’s recent rollouts on Solana and Arbitrum, as the company continues to extend its presence across multiple chains. Earlier this year, Maple’s syrupUSDC surpassed $1 billion in supply, underscoring the demand for yield-bearing stablecoins.
“This launch underscores our excitement over Plasma and its importance as a payments ecosystem. Plasma’s high performance and focus on USDT align naturally with Maple’s mission to deliver sustainable, high-quality dollar yield at scale. We believe this deployment will strengthen liquidity across the ecosystem while advancing Maple’s goal of $5 billion in AUM this year.”
Sid Powell, CEO of Maple
Why Plasma?
Backed by Tether, Plasma is designed as a high-throughput blockchain optimized for payments and stablecoin settlement. Its focus on USDT as a core asset makes it a natural fit for Maple’s dollar-yield products, bridging institutional-grade liquidity with next-generation infrastructure.
As more partner integrations on Plasma go live, Maple expects additional DeFi applications to adopt syrupUSDT as a cornerstone of liquidity.
Maple’s Role in Onchain Asset Management
Founded in 2021, Maple combines decades of traditional finance expertise with DeFi innovation. Its suite of offerings includes secured lending, Bitcoin Yield, structured products, and yield-bearing stablecoins, serving both institutions and retail users. With a global reach and growing reputation for institutional credibility, Maple is positioning itself as a pioneer of decentralized asset management.
