Maple Finance Loans Rise 12% Year Over Year as Tracked DeFi Loans Fall 29% Since January

The lender’s Q3 loan balance reached $1.67 billion, 12% above its level a year earlier, while remaining below Q2 as tracked DeFi lending contracted since January.

The quarter-end balance was 9% below Q2. Revenue for the quarter was $4.4 million, unchanged from Q2 and 5% higher than a year earlier.

From January through Q3, Maple’s loan book grew 3%, while the tracked DeFi loan total fell 29%. Maple represented 17% of that tracked amount. The figures use different comparison periods: Maple’s 12% increase is year over year, while its 3% growth and the DeFi decline are measured from January.

Originations reached $8.3 billion in the first nine months, a 75% increase from the same period a year earlier. Originations count loans made over a period; loans outstanding measure the balance remaining at a specific point in time.

During the quarter, Maple launched syrupUSDG on Arbitrum, Ink and Solana, as well as syrupUSDC on Arc. The company plans to expand into financing fintech receivables and lending against rated securities.