The yield-bearing stablecoin has grown by 59% since the beginning of summer as institutional demand accelerates.
SyrupUSDC – a yield-bearing stablecoin issued by asset manager Maple Finance, which oversees more than $3.5 billion – surpassed $1 billion in supply on Wednesday, Sept. 3.
The stablecoin’s market capitalization jumped from $970 million early Wednesday to $1.01 billion at the time of writing. The surge marks an 18% increase from one month ago, and a 59% increase since the beginning of summer.
“Crossing the $1 billion mark in syrupUSDC supply shows just how quickly demand for institutional-grade yield is scaling in [decentralized finance],” Maple’s CEO Sidney Powell told The Defiant. “It’s a signal that allocators are no longer sitting on the sidelines, they’re actively looking for ways to put capital to work on-chain in a safe and efficient way.”
Powell added that syrupUSDC serves as a bridge for allocators to do that, and the momentum behind it “has only accelerated in recent months.”
The milestone comes as Maple announced on Wednesday that syrupUSDC would expand to Arbitrum, an Ethereum Layer 2 network with a total value locked (TVL) of nearly $3.7 billion, per DeFiLlama.
Maple’s move to Arbitrum builds on its presence on Ethereum and Solana. The launch also comes with support from Arbitrum’s new DRIP rewards program, which lets users earn ARB tokens when borrowing against syrupUSDC. This feature adds an extra layer of rewards on top of Maple’s regular yield, according to a press release viewed by The Defiant.
“Expanding to Arbitrum is an important step in that journey. It connects syrupUSDC to one of the most active communities in DeFi, where the appetite for leverage and yield is huge,” Powell said. “By meeting users where they already are, we’re making syrupUSDC more liquid and more accessible, while laying the groundwork for credit markets that can rival traditional finance in scale and efficiency.”
This expansion is part of Maple’s multi-chain strategy to expand syrupUSDC to the busiest DeFi networks. Maple’s native SYRUP token is currently trading at $0.47, up 8% over the past week and 17% over the last two weeks, according to CoinGecko.
Maple, which launched in 2021, has recorded strong momentum in 2025, with its TVL surging to around $2.2 billion currently from $298 million at the start of the year, according to DefiLlama data.