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According to Bloomberg, decentralized finance app Maple Finance has introduced tougher requirements for borrowers on its platform, moving to reduce counterparty risk after a wave of defaults swept the crypto industry this year. Borrowers must now sign legal agreements that include a provision for submitting independently audited financial accounts annually, Chief Executive Officer Sid Powell said in an interview. The also have to submit monthly reports outlining their financial health, including balance sheet information. Borrowers on Maple Finance will also be required to sign up to credit risk data platform Credora, which provides lenders with real-time information to help them assess what level of risk a borrower has accumulated across different crypto exchanges.

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【DeFi app Maple tightens lending standards after crypto shakeout】According to Bloomberg, decentralized finance app Maple Finance has introduced tougher requirements for borrowers on its platform, moving to reduce counterparty risk after a wave of defaults swept the crypto industry this year. Borrowers must now sign legal agreements that include a provision for submitting independently audited financial accounts annually, Chief Executive Officer Sid Powell said in an interview. The also have to submit monthly reports outlining their financial health, including balance sheet information. Borrowers on Maple Finance will also be required to sign up to credit risk data platform Credora, which provides lenders with real-time information to help them assess what level of risk a borrower has accumulated across different crypto exchanges.

DeFi app Maple tightens lending standards after crypto shakeout

Disclaimer：The content above does not represent HTX's positions.，HTX does not provide any trading recommendations.。

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