The companies said Thursday that cryptocurrency lender Maple Finance has partnered with cryptocurrency company Lido Finance to provide a Stablecoin credit backed by collateral in the form of Lido’s Liquid Stateking Token (Steth).
This collaboration allows institutions to borrow stabilizers without having to relax their fixed ETH positions. Borrowers can use Stees as collateral for credit lines underwritten by Maple’s internal credit team, according to the release. Lido’s steth is a liquid version of fixed ETH that can be used in decentralized finance (DEFI) while still being rewarded from stocks.
Resuming production – The idea of using blockchain to protect other applications – has quickly become one New investment trends In encryption. Lido of Ethereum has been busy Building a partnership To bring Lido’s Steth to the center stage.
Maple has over $1.8 billion in assets on its platform, and recently partnered with Wall Street companies Cantor Fitzgerald Take a Bitcoin-backed loan.
“The demand for such formal institutions in their capital strategy is growing,” said Sid Powell, CEO and co-founder of Maple. “By enabling Steth-backed loans, we make it easier for institutions to access liquidity while keeping their core assets positive and productive.”
According to the press release, the product offers a range of use cases for institutional use cases.
