DeFi company Compound Labs has launched in partnership with Fireblocks and Circle the Compound Treasury, a DeFi company focused on the institutional market, Coindesk reported. By depositing funds on the platform, the investor obtains a return of 4% per year (APR – Annual percentage rate), without exposure to the volatility of cryptoassets.
Treasury allows digital banks and fintech firms to make dollar transfers converted into USDC, Cicle’s dollar-backed stablecoin created in partnership with Coinbase.
Thus, investors can access the interest rates available on Compound’s protocol USDC marketplace without the complexity of having to manage private keys and convert them to fiat currencies.
Compound Treasury is another of this type of product on the market
Other products of this type have appeared on the market. Circle has launched Circle Yield , which offers returns to those who deposit funds. Circle has also recently launched the DeFi API that is used in Compound Treasury. Terraform Labs’ Anchor offers a 20% return, but users will need to have cryptocurrencies to access the platform.