Home News Maple Finance launches DeFi syndicated $25M loan for Alameda Research

Maple Finance launches DeFi syndicated $25M loan for Alameda Research


Sam Bankman-Fried‘s Alameda Research venture company has raised $25 million through the Maple Finance decentralized finance (DeFi) platform.

Representatives of Maple Finance stressed that during the year the credit pool will increase to $1 billion. Thus, only accredited investors who are not residents of the United States can participate in it. Initially, they are CoinShares, Abra and Ascendex – companies that have passed Know Your Customer and Anti-Money Laundering (KYC/AML) procedures.

Maple Finance is a permissioned blockchain platform that issues syndicated loans. According to the information on the website, institutional investors have attracted partially secured loans totaling $339.6 million.

The support of BlockTower Capital and Genesis Trading

“Institutional interest in DeFi is growing. Such companies want to generate revenue, but do not know how to do it in accordance with the requirements, and do not trust the existing protocols,” said Sid Powell, co-founder of Maple Finance.

The first authorized pool from Maple Finance started working in November with the support of BlockTower Capital and Genesis Trading. In addition, lenders and borrowers who have passed KYC procedures can participate in it.

Alameda Research is the only one borrower in the new pool.

Permissioned deployment for institutions

Recall that earlier in July, Aave lending project announced launch of permissioned deployment for institutions. The head of the company Stani Kulechov announced this at the Next Steps in Institutional DeFi webinar. So, after the webinar, listeners received an email describing the key features of the Aave Pro.

In the first phase, the protocol supports four assets – BitcoinEthereum, Aave, and USD Coin (USDC). And offer customers the same services as in the main version of the project. Its pools are separated from other sources of liquidity.

Access to the platform is granted to “institutions, corporations and fintech companies” that have passed the Fireblocks KYC review. To do this, Aave V2 integrated whitelisting. The blockchain startup also enforced anti-money laundering and anti-fraudulent practices.

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