Cryptocurrency Lending Firm Maple Finance works together with Crypto strike Specialist Lido Finance to offer Stablecoin credit lines that are supported by collateral in the form of Lido’s Liquid STACK TAKEN (STETH), the companies said on Thursday.
The collaboration offers institutions the opportunity to borrow Stablecoins without relaxing their deployed ETH positions. Leers can use Steth as collateral for credit lines that are endorsed by Maple’s internal credit team according to a press release. Lido’s Steth is a liquid version of Stant -eth that can be put to work in Decentralized Finance (Defi), while still earning rewards.
Reformulating – The idea of using a blockchain to secure other apps – has quickly become a new investment trend in Crypto. Lido, a strike by Ethereum, has been busy forging partnerships to bring Return Lido’s Steth to the center of the stage.
Maple, with more than $ 1.8 billion in assets on his platform, has recently been in a tear of Wall Street Firm Cantor Fitzgerald to make Bitcoin-Supported Loans.
“This partnership formalizes a growing demand from institutions that Steth are already using in their capital strategies,” said Sid Powell, CEO and co-founder of Maple. “By taking out loans by Steth, we make it easier for institutions to gain access to liquidity, while their core activa is set and productive.”
The offer serves a series of institutional user cases, including the expansion of the Treasury landing track, conservative leverage and working capital in the short term, according to a press release.
