Cryptocurrency lending platform Maple has announced the launch of a new U.S. Treasury-backed lending pool. According to a press release published on July 8, Maple will launch its first U.S. dollar-backed pool, allowing users to access the safety of U.S. government bonds by investing in Maple’s own MPL token.

Since the announcement, the price of Maple’s MPL token has surged by almost 23%, from $0.064 to a high of $0.078. The token's market cap currently stands at around $80 million, up from $65 million earlier on Tuesday.

The new U.S. Treasury-backed pool on Maple is set to launch on July 13. Maple's CEO, Simon Yu, stated that the pool is aimed squarely at retail investors who want access to the stability of U.S. Treasuries without having to go through the rigmarole of setting up a bank account. “You don’t need to go through a lengthy KYC process to get involved," Yu said.

Maple is a cryptomarket lending platform that is designed to provide a robust and secure platform for the borrowing and lending of digital assets. It is one of the older players on the scene but has grown rapidly since its launch in late-2018. The platform offers a number of services, such as mortgage loans and non-recourse loans, allowing users to access a broader range of financial services than was previously available in the traditional banking system.

As part of its mission to make digital assets more accessible to a wider population, Maple is launching a U.S. Treasury-backed lending pool, allowing users to invest in U.S. Treasuries without the need for a bank account. The pool will be backed by U.S. Treasury securities, providing users with access to the safety of U.S. government bonds.

The Maple platform has become increasingly popular in recent months, with the platform’s user base growing steadily. Maple also recently announced that it had closed a $23 million Series B funding round led by venture capital firm Sequoia Capital.

Maple’s new U.S. Treasury-backed lending pool is expected to boost the platform’s appeal to a larger group of retail investors who want to invest in assets backed by the safety and stability of U.S. government bonds. The pool is set to launch on July 13 and the price of Maple’s MPL token has already surged in anticipation of the launch. With the platform growing in popularity and estimated to reach a user base over 8 million by the end of 2020, this new addition of U.S. Treasury backed lending pool could make Maple an even bigger player in the digital assets lending space.

Cryptocurrency lending platform Maple is launching a U.S. Treasury-backed lending pool, allowing users to access the safety of U.S. government bonds by investing in the platform’s own MPL token. Since the announcement, the token price has surged by 23%, and the total market cap has now reached $80 million. The launch of this pool is part of Maple’s mission to make digital assets more accessible to the retail investment population.

Maple users can now invest in U.S. Treasuries without needing a bank account and bypass a tedious KYC process. The platform has been in business since 2018, and its user base is growing steadily. It recently closed a round of funding for $23 million, backed by venture capital firm Sequoia Capital, and it is estimated that the user base will reach 8 million by the end of the year.

The U.S. Treasury-backed lending pool is due to launch on July 13 and will be supported by U.S. government bonds. It is likely that the pool will gain further traction with the increasing popularity of digital assets, created in part by Maple’s expanding user base. The pool will bring a new avenue of stability and protection to digital asset investments, and its success could see Maple become a major player in the lending space.



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