DeFi lending platform Maple Finance is launching a new direct lending arm called Maple Direct. The company aims to fill the gap left by the bankruptcies of crypto lending giants Celsius and BlockFi. Maple Direct will provide tailored lending deals to web3 native entities with capital from institutional allocators. The first lending product is expected to launch in July, with all lenders required to pass know-your-customer checks. Maple Finance CEO Sid Powell stated that the establishment of a sophisticated debt market is crucial for the growth of the web3 sector.
Key points:
– Maple Finance is launching Maple Direct, a new direct lending arm.
– The platform will offer bespoke lending deals to web3 native entities with institutional capital.
– The first lending product is set to launch in July, and all lenders must undergo know-your-customer checks.
– Maple Finance aims to address the lack of direct lending offerings in the crypto market and provide a reliable debt capital source for web3 businesses.
– The company’s previous version, Maple Finance 2.0, was released in December and has significant assets and issued loans.
In conclusion, Maple Finance is stepping in to fill the void left by the bankruptcies of Celsius and BlockFi with the launch of Maple Direct. By offering tailored lending deals to web3 native entities, the platform aims to provide a reliable debt capital source for the crypto market. The establishment of a sophisticated debt market is crucial for the growth of the web3 sector and its contribution to the global economy. Maple Finance’s previous version, Maple Finance 2.0, has already gained significant assets and issued loans.
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