Maple Finance launches new USD20m lending pool
Maple Finance has launched a new lending pool, starting at USD20million, led by Maven 11, a global digital asset investment firm, who will act as the pool’s delegate.
This is Maple Finance’s second lending pool which aims to bridge institutions to the under-collateralised DeFi lending market, and will go live on July 07.
Maple Finance liquidity providers include Blockchain.com, Coinshares, Dragonfly and Spartan Group among others.
Maven 11 will act as the pool delegate, the party responsible for approving loan terms & performing due diligence.
The new pool will facilitate much needed under-collateralised loans to leading companies around the world.
Maple Finance launched its inaugural lending pool in May 2021, which has since doubled to USD37 million, after closing a USD1.4 million funding round in January, led by Framework Ventures and Polychain Capital.
Sidney Powell, CEO and Co-Founder of Maple Finance, says:
“Without access to efficient and under-collateralised capital, the digital economy will fail to keep up with the demand necessary to drive mass adoption of digital assets. Drawing on Maven 11’s global experience, Maple’s second lending pool will provide much needed capital to reputable firms across the globe.”