EddieJayonCrypto
7 Mar 25
Maple Finance announced that Bitwise is using its platform to provide loans to other institutions. Bitwise deposited over $1 million worth of USDC into Maple's lending strategies, earning a 9.5% yield. Maple, operating at the intersection of DeFi and traditional lending, is responsible for borrower ...
Maple Finance announced that Bitwise is using its platform to provide loans to other institutions. Bitwise deposited over $1 million worth of USDC into Maple's lending strategies, earning a 9.5% yield. Maple, operating at the intersection of DeFi and traditional lending, is responsible for borrower selection and terms negotiation but utilizes decentralized infrastructure. Bitwise, after a lengthy due diligence process, chose a strategy that only accepts Bitcoin and Ethereum as collateral. Maple has generated $27 million in fees since 2023, and its lending platform holds assets worth $427 million.
Powell anticipates more asset managers interacting with DeFi firms following regulatory shifts. Cantor Fitzgerald and Blockstream are also making moves in the crypto lending space. Cantor Fitzgerald, which helps manage Tether’s stablecoin reserves, said last July that it would start a Bitcoin-backed lending program. The Bitcoin development firm Blockstream recently secured billions of dollars to introduce three new funds, two of which will enable crypto lending. "I think it won’t be long before you see more of these types of products emerge," Powell said, describing lending against Bitcoin for yield as “among the oldest on-chain credit strategies."