Digital asset lending platform Celsius has become the first pool delegate from the centralized finance market to deploy a crypto-centric lending service on Maple Finance, utilizing the latter’s smart contract and blockchain infrastructure to facilitate a $30 million pool to institutional investors.

Celsius succeeds existing pool delegates BlockTower, Orthogonal Trading, Maven 11 and Alameda Research in partnering with Maple on such an endeavor.

The introduction of wrapped Ether (wETH) is set to complement the existing accessibility to trade Circle’s native stablecoin, USD Coin (USDC), enabling investors to utilize the asset across an array of trading components, including staking, lending and borrowing.

Cointelegraph spoke to Sidney Powell, Maple Finance’s co-founder and CEO, to uncover the prerequisites and financial nuances that interested institutional investors must be aware of before engaging with the pool.

Powell shared that “Institutions work directly with the Celsius team to borrow from this pool. Borrowers have to pass through Celsius’ established KYC and credit assessments,” adding:

“In this instance, digital asset institutions Wintermute and Amber have already been doing business on Maple, so have an on-chain credit reputation, and signed a Master Loan Agreement (MLN) too. This, plus Celsius’ established processes, means onboarding has been streamlined for all parties.”

Maple Finance revealed to Cointelegraph that the initial syndicated loan of $47.25 million issued to Alameda Research in mid-November 2021 has today exceeded $100 million, with the…

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