Compound Labs announced the launch of Compound Treasury

Compound Labs announced last Monday, June 28, through its Twitter account, the launch of Compound Treasury, designed for companies and financial institutions to access the benefits of the Compound protocol.

“Over the years, hundreds of thousands of DeFi users have used the compound protocol to secure attractive interest rates on more than $120 billion worth of crypto assets. Through the volatility of the market both up and down, the protocol has worked without problems and is a mainstay of the DeFi ecosystem, a reliable source of high performance and deep liquidity”, he said through an article published on the Medium platform.

According to the company, Compound Labs’ mission is to create products and services that extend the functionality of the Compound protocol and allow more users to access that functionality. For example, Gateway takes the composite protocol in multiple chains.

“Today, we are proud to announce the Composite Treasury, designed for non-crypto financial companies and institutions to access the benefits of the composite protocol”, he added.

High Yield Interest Driven by USDC

The company explained that, working with Fireblocks and Circle, Compound Treasury has created a product and a flow of funds that allows Neobanks, Fintech startups and other large holders of US dollars to access the interest rates available in the USDC market of the compound protocol, while abstracting protocol-related complexity, including private key management, crypto-to-fiat conversion, and interest rate volatility. In his view, the customer experience is simple:

• Transfer US dollars to your compound treasury account and start earning a guaranteed fixed interest rate of 4% per year, orders of magnitude higher than the average US dollar savings account.

• Finance and withdraw money from your account at any time, with a response time of 24 hours.

• Low minimums, no maximums and no fixed terms or durations.

• Detailed and auditable balance sheets available monthly and on demand.

The future of fintech

The company noted that Compound Treasury has been created to meet the needs of financial institutions, following many months of research on customer and regulatory compliance.

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Trevor Marshall, CTO commented, “As a fintech focused on creating inspiring and motivating products, we are constantly looking for more ways to deliver even more value to our members. Working with the Compound Treasury, we will be able to give our members access to the protocol interest rates through a simple and unified experience that can allow even more people to improve their financial results”.

“Our vision is for Compound Treasury to become the bridge for non-crypto financial institutions to deliver the core benefits of DeFi to the next billion users, and we are very excited to work with our clients to take advantage of this enormous opportunity”.