Maple Finance Deploys syrupUSDT on Tether-Backed Plasma Blockchain

Maple Finance has launched syrupUSDT on the Plasma blockchain, a platform supported by Tether, marking its first expansion beyond Ethereum.
Users can deposit syrupUSDT into a Midas-hosted vault starting tomorrow, earning yield and rewards associated with Plasma's mainnet launch and token generation event.
Future integrations with DeFi protocols on Plasma are planned as the network expands.
Plasma focuses on fast transaction processing using USDT as its base asset, which aligns with Maple's goal to distribute yield-bearing dollar products across multiple chains.
Maple aims to increase liquidity and reach $5 billion in assets under management by the end of 2025.
The company has already expanded to Solana and Arbitrum, with syrupUSDC surpassing $1 billion in supply, indicating a strong demand for tokenized yield products.