Maple Finance Receives SEC Exemption to Offer Treasury Yields to US Investors
Blockchain institutional capital marketplace Maple Finance has received an exemption from the United States Securities and Exchange Commission (SEC) to offer its one-month U.S. Treasury yields to accredited investors in the United States. Previously, these Treasury pools were only available to accredited investors outside the US. Through the SEC Regulation D Rule 506(c) Exemption, Maple Finance can now offer investment products to individual investors in the US with a net worth exceeding $1 million or an annual income exceeding $200,000 ($300,000 if their spouse is included). They can also sell investment products to accredited US entities such as banks.
Key points:
– Maple Finance has secured an exemption from the SEC to offer its Treasury yields to accredited US investors.
– Previously, these Treasury pools were only available to accredited investors outside the US.
– The SEC exemption allows Maple Finance to offer investment products to individual investors with a net worth exceeding $1 million or an annual income exceeding $200,000 ($300,000 if their spouse is included).
– They can also sell investment products to accredited US entities such as banks.
– The Treasury pool currently holds over 21 million USD Coin (USDC) with an annualized yield of 4.76%.
Room40 Capital, an institutional crypto hedge fund, is currently the sole borrower from the pool. The firm will use the proceeds to purchase and hold short-dated U.S. Treasury bills and reverse repurchase agreements collateralized by U.S. Treasury bills. Maple Finance’s website states that onboarding takes 15 minutes and lenders can download monthly interest statements anytime. Withdrawals are processed within a maximum of 48 hours. Since the Treasury pools launched in April, Room40 Capital has made 46 payments with no late payments.
Hot Take
Maple Finance’s exemption from the SEC allows them to expand their offering to accredited US investors, increasing their potential investor base and attracting more capital to their Treasury pools. This move showcases the growing acceptance and recognition of blockchain-based financial platforms by regulatory authorities. With the ability to offer higher-yielding investment products, Maple Finance has the opportunity to further establish itself as a trusted and reliable player in the crypto lending space.
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