DeFi platform Maple Finance announced the United States Treasury pool launch called “Cash Management Pool” for non-U.S. accredited investors and entities.Â
Maple Finance stated: “Non-US DAOs, Offshore Companies, Web3 Treasuries and HNWI participants can now put their idle funds to work in a Pool designed to provide them with the most direct access to Treasury bill yields, whilst meeting their liquidity, risk and accounting requirements.”
The new Cash Management Pool is only available to institutional Web3 investors, who can access U.S. Treasury bills directly.
The pool will pass the 1-month U.S. Treasury bill rate, with lower fees to Lenders. Reportedly, it takes 10-15 minutes to complete user onboarding.
The borrower’s portfolio of assets kept with a licensed broker is visible to lenders in real-time, and interest statements are available for download at any time.
Maple Finance has collaborated with institutional cryptocurrency hedge fund Room40 Capital, which will act as the only borrower through a special purpose vehicle (SPV).
There is no lock-up period, and withdrawals will be processed on the following U.S. banking day because interest starts to accrue as soon as the money is deposited, allowing lenders to manage cash flows.
Sid Powell, CEO and Co-Founder of Maple Finance, noted: “This pool lets stablecoin holders focus on their core business activities whilst we take care of the technicalities. The access to banking and deposit services for startups has narrowed so the importance of having this service onchain cannot be overstated. We’re really proud to bring this to market at the perfect time with partners that share the same commitments.”Â
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