Japan is offloading billions of dollars in US Treasuries as it fights to prop up its currency. New numbers from the US Treasury Department show Japan sold $22 billion in Treasury securities in May, reducing its holdings to $1.1283 trillion. The move marks the second month in a row that Japan has reduced its massive […]
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According to the latest data, Blackrock’s BUIDL fund on Securitize has surpassed $500 million, becoming the first tokenized money market fund to reach this milestone. This achievement coincides with the value of tokenized U.S. Treasuries reaching $1.81 billion. Half Billion Milestone for Blackrock’s BUIDL Fund This week, Blackrock’s USD Institutional Digital Liquidity Fund, also known […]
A banking giant in Japan has announced a plan to liquidate $63 billion in US and European treasuries in an attempt to mitigate a massive amount of unrealized losses on its balance sheet. Japan’s Norinchukin Bank, which has $681.6 billion in total assets, plans to complete the sell-off of sovereign bonds by March of next […]
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New numbers show China has sold $101.9 billion in US Treasury securities over the past 12 months. The Treasury Department says China cut its holdings from $869.3 billion in March of last year to $767.4 billion in March of this year. China’s holdings have steadily dropped from an all-time high of $1.31 trillion, which was […]
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The world’s second-largest economy is steadily unloading billions of dollars in US Treasuries. New data from the US Treasury Department shows China pared its Treasury holdings from $816.3 billion in December of last year to $767.4 billion in March. That’s a quarterly decrease of $48.90 billion. The chief Asia foreign-exchange and rates strategist at Bloomberg Intelligence, […]
The post China Sells $48,900,000,000 in US Treasuries in One Quarter, Analyst Says ‘Clear Intention’ To Dump US Dollar Holdings on Display appeared first on The Daily Hodl.
The so-called on-chain management protocol gives non-U.S. accredited investors access to one-month U.S. Treasury yields.
Crypto lender Maple Finance has rolled out a United States Treasury pool for non-U.S. accredited investors and entities.
According to an Apr. 19 post, Maple Finance has launched a new Cash Management Pool for institutional Web3 investors to access U.S. Treasury Bills directly. The offering is not available to U.S. individuals or entities. The pool will source yield from one-month U.S. Treasury bills and reverse purchase agreements, less fees, to lenders, with crypto hedge fund Room40 Capital serving as the sole borrower via a special purpose vehicle (SPV). Maple developers wrote:
"Whilst there are a handful of “risk-free rate” offerings on-chain, they do not provide the peace of mind necessary to attract hard earned treasury funds. Counterparty risk is either too high, assets too illiquid, too complicated with ETFs, or rates between 1-2% too low for the level of smart contract risk."
Maple claims that all pool assets are held in a standalone SPV "custodied by a regulated prime broker and Lenders have full recourse over all assets." The firm also says that onboarding "takes between 10-15 minutes to complete," and that interest accrues immediately from the time of deposit with no lock-up period.
"Lenders have a real-time view into the borrower’s portfolio of assets held with a regulated broker and interest statements can be downloaded at any time."
Maple Finance is currently available on the Ethereum and Solana blockchains, with around $1.9 billion in loans originated since inception. U.S. Treasury bills are classified as securities. As a result, derivatives containing such instruments as the underlying asset cannot be sold to U.S. investors without registration or an exemption from the Securities and Exchange Commission.
Magazine: Crypto regulation: Does SEC Chair Gary Gensler have the final say?
Bloomberg Intelligence senior commodity analyst, Mike McGlone, recently wrote that “cryptos could regain [an] edge” when he discussed bitcoin and ethereum in a report published on Bloomberg’s terminal on Nov. 3, 2022. McGlone detailed that volatility in bitcoin and ethereum has dropped to low levels in comparison to traditional assets, and this trend could “tilt […]
While the price of bitcoin has surged during the first few days of October, the price of the precious metal gold has also increased percentage-wise as the U.S. dollar and the country’s 10-year Treasury yields slid in value this past week. An ounce of fine gold exchanged hands this weekend for $1,760 per unit, up […]