Maple Finance is set to broaden its on-chain services this fall as it extends its operations to the high-speed Base network. This marks the lending platform's third blockchain venture, following its presence on Ethereum and Solana.

The inaugural offering on Base will be Maple's Cash Management pool, presently delivering a 4.8% yield, sourced from short-term U.S. treasuries.

This particular pool was introduced in August during a period of surging interest rates, capitalizing on the profitability of American government bonds.

There was no immediate response from Base representatives when contacted for comments.

What is Maple Finance?

Maple Finance serves as a blockchain infrastructure provider enabling companies to create their own blockchain-based credit facilities. On the other hand, Base is a layer-2 blockchain developed with Coinbase's support, leveraging Optimism technology.

The Cash Management pool exclusively has Room 40 Capital as its borrower. In this arrangement, when lenders deposit their USDC stablecoins into the pool, Room 40 Capital utilizes the funds to purchase T-Bills.

According to Joe Flanagan, co-founder of Maple Finance, significant interest in this specific pool has been driven by "Web3 corporate treasuries," with this group accounting for "over 50% of deposits." High-net-worth individuals are another important segment of users turning to the pool, often using it to prudently extend their financial resources.

Joe Flanagan, co-founder of Maple, explained that all lenders participating in Maple Cash Management must undergo Know Your Customer (KYC), Know Your Business (KYB), and accredited investor checks. This stringent adherence to standards ensures global compliance and accessibility for the offering.

Flanagan also emphasized that this integration provides Maple with direct access to a substantial customer base, including thousands of existing and prospective Coinbase Institutional clients.

Looking ahead, Flanagan hinted at forthcoming Base-exclusive products resulting from this partnership. He stated, "Before the end of this year, we will introduce at least one additional pool on Base, with more to follow in the first quarter of next year. These opportunities will encompass a blend of private credit digital-native offerings and real-world yield sources."