While expectations for the future of cryptocurrencies are rising, many projects and platforms continue to raise millions of dollars in funds.
In this context, Blockchain-based loan platform Maple Finance recently raised $5 million in its financing round.
According to the news of Coindesk, the funding round has been completed under the leadership of BlockTower Capital and Tioga Capital with the participation of Cherry Ventures, The Spartan Group, GSR Ventures and Veris Ventures.
Stating that Maple Finance's focus is on Asia, CEO Sidney Powell said in a statement:
“This round of funding marks a pivotal moment in our evolution as we embark on a strategic expansion in the APAC (Asia-Pacific) region as part of a comprehensive growth plan for Maple.
The network is poised to further scale its technology and forge partnerships that enable harmonious and seamless borrowing and borrowing adoption in the Asia Pacific region, particularly Singapore, Japan, Hong Kong and Korea.”
While Maple Finance's focus on Asia demonstrates the region's growing importance for the cryptocurrency industry, Maple Finance also announced that it has re-launched the Solana (SOL) network.
Following the investment news, the price of Maple Finance's native token MPL has moved. At the time of writing, MPL is trading at $4,957.
*Not investment advice.