Latest news with #SidPowell
Yahoo
3 days ago
- Business
- Yahoo
Crypto Lender Maple Finance Expands to Solana With Chainlink
Maple Finance, a cryptocurrency lending firm offering decentralized finance-like (DeFi) yields to institutions, has expanded into the Solana ecosystem with the help of Chainlink's Cross-Chain Interoperability Protocol (CCIP). To support the expansion, Maple's ecosystem has allocated $500,000 in incentives and coordinated over $30 million in liquidity, establishing a deep and stable foundation for lending, trading and collateral provisioning on the Solana blockchain. There's more than $10 billion in stablecoins circulating on Solana, making it one of the most liquid ecosystems in crypto and a growing hub for institutional DeFi. Maple's token, syrupUSDC, will be accessible on Solana-native platforms including Kamino and Orca. Robinhood-backed stablecoin consortium the Global Dollar Network (GDN) is also supporting the launch with USDG being a key supply asset into the market, according to a press release. 'Expanding to Solana unlocks a high-speed, high-capacity environment where Maple's products can reach a broader class of users — from institutions to advanced DeFi participants,' said Sid Powell, CEO and Co-Founder of Maple. 'With syrupUSDC now native to Solana, we're delivering yield, capital efficiency and liquidity to one of the largest stablecoin ecosystems in crypto.' Se produjo un error al recuperar la información Inicia sesión para acceder a tu portafolio Se produjo un error al recuperar la información Se produjo un error al recuperar la información Se produjo un error al recuperar la información Se produjo un error al recuperar la información
Yahoo
30-03-2025
- Business
- Yahoo
Maple CEO wants to turn Bitcoin into the new backbone of global lending
Sid Powell, CEO and co-founder of Maple, is taking a page from Wall Street and bringing it on-chain. His company is rethinking institutional lending with crypto as the foundation — starting with Bitcoin. In an interview with TheStreet Roundtable, Powell described the approach as 'asset-backed lending on-chain.' It's already getting attention from high-net-worth individuals and fixed-income investors. Maple makes loans to institutions like trading firms and hedge funds, using crypto — like Bitcoin — as collateral. Borrowers get stablecoins sent directly to their wallets, while Maple holds the collateral in liquid digital assets. Investors then earn yield from those loans, much like traditional credit markets. Unlike private credit markets, where loans are often unsecured and locked for years, Powell says Maple offers something far more appealing: loans that are over-collateralized and redeemable within 30 days. This sounds familiar to anyone who's dealt with margin lending or pledged securities. But crypto has one major edge: liquidity. 'Selling a house takes six months, but selling a billion dollars' worth of Bitcoin can take a couple of hours,' Powell said. 'There are plenty of places I can sell (digital assets) if the loan goes sour.' The collapse of crypto lenders such as BlockFi in 2022, combined with the volatility of crypto markets has made risk management a top concern. Maple addresses this with institutional-grade custodians like BitGo and clear margin policies, offering yields comparable to high-yield credit but with a safety net of liquid collateral.'We spend a lot of time explaining how we manage margins,' Powell noted. 'If Bitcoin drops in price, how long do we wait before selling the asset? How much time do we give someone to post more collateral or pay down the loan?' Powell's vision extends beyond this product. He sees it as a stepping stone to compete with traditional finance giants like Apollo or Ares, potentially partnering with firms like J.P. Morgan to distribute standardized Bitcoin-backed securities to pension funds and marry the speed of crypto with the stability of traditional finance. Sign in to access your portfolio
