Maple

United

USDC

Coin

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  Launched in April, the USDC pools were previously accessible only to non-U.S. accredited investors. 
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<div class="cointelegraph"> 
 <p>Blockchain institutional capital marketplace Maple Finance has secured an <a rel="noopener noreferrer nofollow" title="exemption" href="https://thebittimes.com/tag/exemption.html">exemption</a> from the United States Securities and Exchange Commission to offer its one-month U.S. Treasury yields to accredited investors in the United States.</p> 
 <p>Before the Aug. 9 announcement, the Maple Finance Treasury <a rel="noopener noreferrer nofollow" title="pools" href="https://thebittimes.com/tag/pools.html">pools</a> were only available to accredited investors outside the United States. Through the SEC Regulation D Rule 506(c) Exemption, a firm may offer investment products, without prior registration, to individual investors in the U.S. with a net worth exceeding $1 million, excluding the value of their primary residence, or with an annual income exceeding $200,000 per year ($300,000 if their spouse is included). A firm may also sell such investment products to accredited U.S. entities, such as banks.&nbsp;</p> 
 <p>Data from Maple Finance shows&nbsp;that over 21 million USD Coin (USDC) has been deposited into its Treasury pool, which currently holds an annualized yield of 4.76%. No inbound or outbound fees are charged, except for an annualized management fee of 0.50% taken from the yield.</p> 
 <p>Developers wrote that “onboarding takes 15 minutes and Lenders can download monthly interest statements anytime.” The website states that withdrawals are processed within a maximum of 48 hours. Room40 Capital, an institutional crypto hedge fund founded in 2022, is currently the sole borrower from the pool.</p> 
 <p>Room40 Capital said the “proceeds will be used to purchase and hold short-dated U.S. Treasury bills and reverse repurchase agreements fully collateralized by U.S. Treasury bills only.” The firm has made 46 payments thus far since the Treasury <a rel="noopener noreferrer nofollow" title="pools" href="https://thebittimes.com/tag/pools.html">pools</a> launched in April, with no late payments.</p> 
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Maple Finance secures SEC exemption for on-chain Treasury pools

TheBitTimes

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