Maple Finance Surpasses BlackRock’s BUIDL with $2.9B AUM 200% Quarterly Revenue Surge

Maple Finance has surpassed BlackRock’s tokenized BUIDL fund in on-chain asset management, with assets under management (AUM) reaching $2.9 billion as of Q2 2025, eclipsing BUIDL’s peak of $2.3 billion [1]. This milestone marks a pivotal shift in the DeFi landscape, where institutional-grade credit protocols are now competing directly with traditional financial giants. Maple’s growth has been fueled by a surge in institutional demand for on-chain solutions that prioritize transparency, faster settlements, and competitive yields. The protocol reported $2.6 billion in AUM, $15 million in annual recurring revenue (ARR), and 200% quarterly revenue growth [1].

The success of Maple underscores a broader trend: on-chain credit is no longer a niche experiment but a scalable alternative to traditional asset management. Institutional borrowers and investors are increasingly favoring decentralized platforms for their efficiency and reduced intermediary costs. Maple’s lending pools and smart contract integrations have enabled it to process record loan volumes in June 2025 and attract a surge of institutional participants in July [1]. This momentum has extended to its native token, SYRUP, which trades at $0.554 with a $660.6 million market cap and 24-hour volume of $880.4 million, reflecting growing confidence in revenue-generating DeFi protocols [1].

The token’s rise gained further traction in July 2025 when South Korea’s largest crypto exchange, Upbit, announced SYRUP listings for KRW, BTC, and USDT pairs. This expansion enhances accessibility for Asian retail and institutional users, bolstering liquidity and visibility for the protocol [2]. Analysts note that such listings could accelerate Maple’s dominance in bridging traditional and decentralized finance, as tokenized governance aligns investor interests with protocol activity [1].

While BlackRock’s BUIDL fund initially served as a bridge between legacy finance and crypto, its slower growth highlights the challenges traditional firms face in adapting to DeFi’s speed and innovation. Maple’s ability to deliver institutional-grade risk controls and real-time transactions has positioned it as a leader in a sector where decentralization and efficiency are now market priorities [1]. The $600 million gap between Maple’s AUM and BUIDL’s underscores the dynamic nature of on-chain asset management, where agility and technological integration determine success.

Looking ahead, analysts are monitoring Maple’s potential to drive further convergence between TradFi and DeFi. The protocol’s focus on expanding lending volume, integrating with Web3 platforms, and securing additional listings could solidify its role as a central player in the evolution of asset management. However, the competition remains fierce as BlackRock and other traditional institutions continue refining their on-chain offerings. The long-term sustainability of DeFi platforms like Maple will hinge on their ability to balance rapid growth with regulatory compliance and risk mitigation [1].

Source: [1] [title: Maple Finance Overtakes BlackRock’s BUIDL in AUM] [url: https://coinmarketcap.com/community/articles/688372e732b65702e7fcff7f/] [2] [title: UPDATE: Maple Finance surpasses BlackRock’s BUIDL fund in AUM] [url: https://twitter.com/Cointelegraph/status/1234567890123456789]