Crypto Lender Maple Finance Opens U.S. Treasury Bill Pool for Cash Management

The pool is structured as a special purpose vehicle that collects investor’s stablecoins and lends it to crypto hedge fund Room40 Capital, the sole borrower of the pool, to invest in T-bills, the post explained.

The pool allows accredited investors, crypto firms and decentralized autonomous organizations’ treasuries to earn yield on their idle stablecoins with low risk, as short-term U.S. treasuries are considered among the safest investments. Maple and Room40 does not require any lockup period for deposits before withdrawal, making the pool ideal for managing cash held in stablecoins, the protocol said.

Notably, only entities and individuals based outside of the U.S. can access the pool after completing a three-step know-your-customer check. Last week, the protocol’s native token MPL rallied as Maple CEO Sidney Powell said in a community call that a new Treasury bill pool will start soon, CoinDesk

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Maple Finance launches pool for US Treasury yieldsThe instrument will allow non-U.S. accredited investors and entities to gain access to 1-month Treasury bills. Get a chance to explore the DappRadar Metaverse Space and win rewards worth over $40,000! SecondLive to discover 10 amazing projects SecondLiveReal Secondlive metaverse web3 gamefi stake bean earn live It seems that we are seeing an influx of crypto-related solutions targeting access to US Treasuries or similar instruments, which is rather expected given the current high rates environment and stabilization (in terms of 'mad APYs') of the crypto market.
Source: Cointelegraph - 🏆 562. / 51 Read more »