Maple Finance Opens Cash Management Solution to U.S. Investors, Backed by U.S. Treasury Bills
On August 9, 2023, Maple Finance announced the opening of its Cash Management Solution to U.S. domiciled Accredited Investors and Entities, operating with a Reg D exemption. This development allows these investors to access a conservative yield backed by U.S. Treasury bills on-chain.
Since the pool's initial launch to non-U.S. customers in April, over $27 million USDC has been deposited into the Cash Management USDC pool, returning an average yield of 4.67% to lenders. The pool targets a net APY of the current 1-month U.S. Treasury bill rate, less fees totaling 0.5% annualized.
The Cash Management Pool is designed to serve as a highly liquid treasury management solution for Web3 treasuries, digital asset funds, and DAOs. It offers direct access to U.S. Treasury Bill rates on-chain, without ETF liquidity or depeg risks, and no inbound or outbound fees. This has led to nearly 60% of lenders increasing their positions, with an average position increase of approximately 360%.
Relm Insurance, a licensed and regulated insurance firm, has praised the daily liquidity of the pool, emphasizing that their «top priority is ensuring capital is safe and accessible to meet potential claims.» Since launching, daily liquidity on U.S. banking days has been maintained, with more than $6 million in withdrawals serviced within one business day.
Key features of the Cash Management USDC Pool include:
1. Confidence with compliance: The pool operates with a Reg D exemption.
2. No in or outbound fees: Fees of 50bps are annualized and paid on interest earned.
3. Immediate interest and next-day withdrawals: No lock-up period, and withdrawals are serviced the next U.S. banking day.
4. Established, transparent infrastructure: Maple's smart
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