Maple Finance Expands to Direct Lending Targeting Web3 Firms

, while traditional financial firms are wary of servicing digital asset firms, leaving the industry with limited options for borrowing.

“There’s a big gap in the market because of the exit of those players,” Sidney Powell, co-founder and CEO of Maple Finance said in an interview with CoinDesk. “This is like a natural extension of what Maple can do as a protocol.”Maple Direct will work as a separate lending pool on the platform, Powell explained. To do so, the company created a subsidiary domiciled in Delaware that will act as a pool delegate to underwrite loans and manage the portfolio.

“We have the expertise in-house as we all came from banking and credit backgrounds, Powell said, adding that they “learned the lessons from last year observing delegates.”

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