The DeFi lending pioneer made the announcement in a blog post on June 29, adding that the new Compound Treasury has been designed for non-crypto native businesses and financial institutions to access the benefits of the protocol.
Compound stated that the protocol has performed flawlessly throughout the market volatility and has secured itself as a pillar of the DeFi ecosystem. It wants to bring this security and reliability to institutional investors by expanding its suite of products.
Compound Finance will be working with crypto custody firm Fireblocks, which partnered with BadgerDAO in April, and the company behind the USDC stablecoin, Circle. It added that the new product will enable Neobanks, fintech startups, and other large holders of USD to access the interest rates available in the USDC market on the protocol.