Maple Finance, a blockchain-based institutional capital market, has received an exemption from the SEC that allows it to offer one-month US Treasury yields to accredited US investors. This exemption marks a change, as previously the Maple Finance treasury pool was only a accessible to accredited investors located outside of the United States. The exemption falls under SEC Rule D 506(c), which permits corporations to offer investment products to individual investors in the US with a net worth exceeding $1 million (excluding their primary residence's value ) or an annual income surpassing $200,000 (or $300,000 including their spouse).
Maple Finance's national bond pool has accumulated over $21 million in tokens, and it currently yields an annualized rate of return of 4.76%. The platform has an annualized management fee of 0.50%, and there are no additional inbound or outbound fe es. Onboarding for lenders is a quick process, taking around 15 minutes, and users can access their monthly interest statements whenever needed. Withdrawals can be completed within 48 hours.
The sole borrower of the pool at the moment is Room40 Capital, an institutional cryptocurrency hedge fund established in 2022. The funds acquired will be used to acquire and hold short-term US Treasury bills and fully collateralized reverse repurchase agreements backed exclusively by US Treasury bills Since the launch of the Treasury pool in April, Room40 Capital has made 46 payments, all of which were on time.
