Digital asset bank Sygnum announced it is the lead partner for a $500 million asset diversification by the Maker protocol, the DeFi initiative known for the DAI stablecoin. Eighty percent will be invested in BlackRock ETFs.
Maker has been investing in real world assets for years but has ramped up activities this year. In August, it announced a $100 million funding of loan participations with Philadelphia-based Huntingdon Valley Bank. Societe Generale Forge has also been discussing a $30m refinancing of a covered bond that was issued as a security token.
Regarding today’s news, Maker plans to invest the first tranche of $250 million in BlackRock fixed income iShares ETFs particularly ones focused on short term Treasuries. The future plan is for another $150 million in BlackRock Treasury ETFs and $100 million in corporate bonds to be managed by Baillie Gifford.
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