Maple Finance, a blockchain-based credit marketplace, said that it has opened its USDC cash management pool, backed by tokenized Treasury bills (T-bills), to American investors.
The Securities and Exchange Commission (SEC) of the United States granted Maple a Regulation D (RegD) exemption under Rule 506(c). Prior to this, the Maple pool was solely accessible to foreign organisations.
Accredited investors, businesses, and decentralised autonomous organisations (DAO) can store their extra USDC and USDT stablecoins in one-month U.S. Treasury bills and receive a 4-5% yearly income by doing so through the cash management pools on Maple. Since the facility opened in April, deposits totaling $22 million have been made.
U.S. investors can only deposit USDC, not USDT.
As the yield on widely regarded as risk-free U.S. government debt exceeded yields in decentralised finance (DeFi), demand for blockchain-based T-bill offerings has been progressively increasing. Stablecoins are frequently held by crypto investment funds, protocol treasuries, and digital asset corporations. They can gain some interest and protection from inflation by investing in tokenized Treasury bonds.
According to real-world asset, the market for tokenized T-bills increased by six times this year to close to $700 million.