Crypto lending platform Maple Finance announced it has raised $5 million in funding co-led by BlockTower Capital and Tioga Capital, with participation from Cherry Ventures, The Spartan Group, GSR Ventures, and others. The funds will be used to support the platform's strategic expansion in the APAC region, as well as its newly launched direct lending arm called Maple Direct.
Maple Finance CEO Sidney Powell said, "The network is poised to further scale its technology and forge partnerships that enable compliant and seamless lending and borrowing adoption across the APAC region, specifically in Singapore, Japan, Hong Kong and Korea."
In addition, Maple Finance announced it will expand its stablecoin management product on Solana.
Related: Maple Finance to Offer Crypto-Collateralized Loans to Web3 Businesses
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