SyrupUSDC<\/a> \u2013 a yield-bearing stablecoin issued by asset manager Maple Finance<\/a>, which oversees more than $3.5 billion \u2013 surpassed $1 billion in supply on Wednesday, Sept. 3. <\/p>\n The stablecoin\u2019s 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. <\/p>\n \u201cCrossing the $1 billion mark in syrupUSDC supply shows just how quickly demand for institutional-grade yield is scaling in [decentralized finance],\u201d Maple\u2019s CEO Sidney Powell told The Defiant. \u201cIt\u2019s a signal that allocators are no longer sitting on the sidelines, they\u2019re actively looking for ways to put capital to work on-chain in a safe and efficient way.\u201d <\/p>\n Powell added that syrupUSDC serves as a bridge for allocators to do that, and the momentum behind it \u201chas only accelerated in recent months.\u201d<\/p>\n 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. <\/p>\n Maple\u2019s move to Arbitrum builds on its presence on Ethereum and Solana<\/a>. The launch also comes with support from Arbitrum\u2019s new DRIP rewards program<\/a>, which lets users earn ARB tokens when borrowing against syrupUSDC. This feature adds an extra layer of rewards on top of Maple\u2019s regular yield, according to a press release viewed by The Defiant. <\/p>\n \u201cExpanding 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,\u201d Powell said. \u201cBy meeting users where they already are, we\u2019re making syrupUSDC more liquid and more accessible, while laying the groundwork for credit markets that can rival traditional finance in scale and efficiency.\u201d<\/p>\n This expansion is part of Maple\u2019s multi-chain strategy to expand syrupUSDC to the busiest DeFi networks. Maple\u2019s 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. <\/p>\n![\"Maple](\"https:\/\/thedefiant.io\/_next\/image?url=https%3A%2F%2Fcdn.thedefiant.io%2Fpasted-1757038099746-png-839b0e73-0ff5-486b-8468-fb744eb007c8.png&w=3840&q=100\"\/)