Blockchain project Maple Finance announced the launch of an asset management pool that gives non-U.S. accredited investors access to U.S. government securities.
Maple Finance, a decentralized protocol that positions itself as an on-chain capital marketplace for institutional investors, launched a financial asset management pool based on the Ethereum blockchain network. The new tool allows offshore companies, DAOs, and other non-U.S. Web3 organizations to gain direct access to short-term U.S. Treasury securities.
Pool participants will receive monthly royalties on U.S. Treasury bills and reverse repurchase agreements, minus fees, to lenders. The sole borrower is a cryptocurrency hedge fund, Room40 Capital, which set up a special purpose vehicle (SPV) for this purpose.
The new offering provides access to public debt financing instruments to companies and individuals that don’t meet the standard risk, liquidity, and cash management accounting requirements billed for such activities in the United States. Such a proposal comes at a time when the U.S. banking system is going through tough times, which narrows access to banking and custody services for cryptocurrency startups. Besides, this form of investment doesn’t fall under the jurisdiction of the U.S. Securities and Exchange Commission, which is heavily involved in regulating the local cryptocurrency market.
