The Crypto Finance cryptocurrency loan company has teamed up with the cryptography specialist, Lido Finance to offer lines of credit to Stablecoin supported by Collateral in the form of Lido liquid token (STETH), companies announced on Thursday.
Collaboration gives institutions the possibility of borrowing stablecoins without having to relax their marked ETH positions. Borrowers can use STETH as a guarantee for credit lines subscribed by the Internal Credit team of Maple, according to a press release. Steth de Lido is a liquid version of Eth Marked Eth which can be put to work in decentralized finance (DEFI), while earning rewards by stimulating.
Reinstallation – The idea of using a blockchain to secure other applications – has quickly become a new investment trend in the crypto. Lido, a loyal spreading Ethereum, was busy forging partnerships to bring the return of Steth de Lido to the center of the stage.
Maple, with more than $ 1.8 billion in active in its platform, has been in tears lately, working with the Wall Street firm, Cantor Fitzgerald, to make bitcoin-supported loans.
“This partnership formalizes an increasing demand from institutions that already use STETH in their capital strategies,” said Sid Powell, CEO and co-founder of Maple. “By allowing loans supported by Steth, we facilitate access to liquidity establishments while keeping their main assets punctuated and productive.”
The offer serves a range of cases of institutional use, in particular the extension of the Treasury track, conservative lever trading and the short -term working fund, according to a press release.
