Maple Finance secures SEC exemption for on-chain Treasury pools
Launched in April, the USDC pools were previously accessible only to non-U.S. accredited investors. Blockchain institutional capital marketplace Maple Finance has secured an exemption from the United States Securities and Exchange Commission to offer its one-month U.S. Treasury yields to accredited investors in the United States. Before the Aug. 9 announcement, the Maple Finance Treasury pools were only available to accredited investors outside the United States. Through the SEC Regulation D Rule 506(c) Exemption, a firm may offer investment products, without prior registration, to individual investors in the U.S. with a net worth exceeding $1 million, excluding the value of their primary residence, or with an annual income exceeding $200,000 per year ($300,000 if their spouse is included). A firm may also sell such investment products to accredited U.S. entities, such as banks. Data from Maple Finance shows that over 21 million USD Coin (USDC) has been deposited into its Treasury...