- Maple Finance has launched a receivables financing pool with a credit facility of up to $100 million.
- The pool has been launched in association with Intero Capital Solutions and will be managed by AQRU.
- A return of 10% on USDC has been advertised, with $500,000 as the minimum investment.
Maple Finance, the popular decentralized finance lending protocol (DeFi), is looking to make a comeback in the lending market with the launch of a new liquidity pool of trade receivables. The launch of this pool marks a major shift away from uncollateralized crypto lending to lending secured by underlying security.
The financing pool was launched in association with Intero Capital Solutions LLC, a fintech firm that will serve as the sole borrower. The pool will be managed by AQRU PLC, a London-based firm that specializes in decentralized finance.
“Receivables financing is one of the oldest commercial finance products and we’re thrilled the pioneering team at AQRU chose our technology to disrupt the status quo,” said Sidney Powell, the CEO, and Co-Founder of Maple Finance.
As per the press release by Maple Finance, AQRU will initially fund the pool with $3 million. This credit facility can be extended to $100 million. The DeFi lender has advertised a return of 10%, with a lock-up period of 45 days. USDC is the supported digital asset for this pool with $500,000 being the minimum investment.
The USDC pool will be secured by tax and trade receivables purchased from qualified firms. The loans will be secured against these receivables owed by the United States Government. Accredited entities including decentralized autonomous organizations (DAO) after going through the necessary know-your-customer (KYC) and anti-money laundering (AML) procedures.
Collateralized lending is a diversification of Maple Finance which historically has been involved with unsecured crypto loans. Interestingly, this news did not have a positive effect on the price of the protocol’s native token, MPL, which has gone down 3.5% over the past 24 hours.
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- Source: https://coinedition.com/maple-finance-reveals-100-million-usdc-liquidity-pool/