Alameda Research takes out a $25 million loan via Maple Finance DeFi platform

Alameda Research, the venture firm founded by Sam Bankman-Fried, raised $25 million via the DeFi platform Maple Finance.

Maple Finance representatives emphasised that over the course of a year the loan pool will grow to $1 billion. Only accredited investors who are not residents of the United States may participate. Initially, they are CoinShares, Abra and Ascendex — companies that have passed KYC/AML procedures.

Maple Finance is positioned as a permissioned platform that issues syndicated loans. According to information on the Maple site, institutional investors attracted partially secured loans totaling $339.5 million.

“Institutional interest in DeFi is growing. These companies want to earn returns, but they do not know how to do so in a way that complies with the requirements, and they do not trust existing protocols,” said Maple Finance co-founder Sid Powell.

The first permissioned pool from Maple Finance began operating in November with the support of BlockTower Capital and Genesis Trading. Investors and borrowers who have passed KYC procedures may participate.

In the newly formed pool, there is only one borrower — Alameda Research.

Earlier, the DeFi platform Aave is preparing to launch the institutional platform Aave Arc.

Subscribe to ForkLog’s channel on YouTube!