Maple Finance Secure $5 mn For Expansion Plan
Maple Finance, led by Tioga Capital and Blocktower Capital, has announced a new $5 million financing.
Participating in the round were GSR Ventures, Cherry Ventures, Veris Ventures, and The Spartan Group. Blocktower Capital’s general partner, Thomas Klocanas, believes Maple is a value-add gateway for institutions to enter the digital asset market and foster sustainable growth.
Maple Finance enables borrowers to create their own credit facility on the blockchain, allowing other lenders to draw from their pool. Icebreaker Finance, for example, formed a $300 million lending pool on Maple in 2021 to assist Bitcoin miners suffering from the weak market.
Recently, the platform launched a new pool through which accredited investors in the United States can obtain exposure to tokenized treasury bills.
(With inputs from Shikha Singh)
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