Blockchain-based credit marketplace Maple Finance unveiled on Wednesday a liquidity pool of trade receivables, the protocol’s first step in a new strategy to bring traditional financial investments onto the blockchain.
The new USDC stablecoin pool will enable firms to receive cash advances with a discount on their tax rebates and funding programs such as Employee Retention Credit (ERC) from the Internal Revenue Service (IRS), the U.S. federal tax authority.
Qualifying firms pledge their receivables as collateral to the loans, and investors in the liquidity pool will earn a return once the IRS transfers the credit.
The target yield of the liquidity pool is 10% annualized, with a minimum investment of $500,000 in USDC and 45-day lockup period. The pool will be open for accredited investors such as institutional asset managers and decentralized autonomous organization (DAO) treasuries, who must comply with know-your customer (KYC) and anti-money laundering checks.
The pool can scale up to $100 million and AQRU will consider lowering the entry barrier once it reaches a certain size.
Maple provides the blockchain-based technology to set up and maintain the pools. London-based public company AQRU will manage the pool – the so-called pool delegate – overseeing applying firms and managing the loan book. The loan originator of the pool is Intero Capital Solutions, a financial firm specialized in receivables financing, who will use funds borrowed from the pool to lend to qualified…
