Maple Finance, the DeFi institutional lending protocol, recently hired Daniel Kim as its head of capital markets and tasked him with making on-chain lending more accessible to traditional firms, Kim told Crypto Investor.
“Our goal is by the end of next year is to get up to $2 billion in loans being provided,” Kim said in an interview.
The lending protocol launched in May with an initial pool of $17 million and doubled that soon after. Maple then launched a new $20 million lending pool specifically for institutional lending with blockchain investment firm Maven11 as its pool delegate.
The path there includes forging additional relationships with more players in traditional finance who understand blockchain technology enough to act as intermediaries.
Kim previously worked for SFOX, one of the first U.S. crypto prime brokerages — plus competitors Gemini and Paxos. He made the jump into crypto in 2014, heading up operations at itBit before it became part of Paxos in an acquisition.
But when he saw a lot of parallels between centralized crypto exchanges and traditional finance, he decided to take a closer look at DeFi.
“That was quite exciting for me because what centralized crypto exchanges were doing was more or less mirroring the traditional side [of finance],” he said. “But what decentralized finance was doing was acting more like a sandbox environment for traditional finance.”
Maple Finance, the DeFi institutional lending protocol, recently hired Daniel Kim as its head of capital markets and tasked him with making on-chain lending more accessible to traditional firms, Kim told Crypto Investor. Subscribe for full article
Get Access to Our Exclusive Content
Already subscribed? Log In