Bitwise Ventures into DeFi with Maple Finance Partnership

Bitwise and Maple Finance Collaborate on DeFi Effort

Bitwise, known for its role as a crypto asset manager and ETF provider, has taken a step into decentralized finance (DeFi) through a strategic collaboration with Maple Finance, a specialist in on-chain credit. This partnership was announced on Thursday, marking Bitwise's inaugural allocation into the DeFi space.

Significant Milestone in Institutional Adoption

While the precise size of Bitwise’s investment remains undisclosed, it utilizes a lending product from Maple backed by Bitcoin. Maple’s CEO, Sid Powell, emphasized that this move symbolizes a crucial development in how institutional allocators are embracing on-chain credit. This particular lending option is accessible to accredited investors within the United States.