
Compound approves $52M institutional DeFi plan
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- Compound approved a $52 million, two-year programme targeting institutional credit and real-world assets.
- $14 million will be available initially, while $38 million depends on milestones.
- Compound plans lending tools for banks, asset managers, exchanges and fintech firms.
Compound (CRYPTO:COMP) approved a $52 million, two-year programme to expand institutional credit and real-world assets onchain.
The programme releases $14 million initially, while $38 million remains subject to development and adoption milestones.
The funding covers operations, engineering, security, governance, partnerships, growth and incentives.
Compound plans to add real-world asset support and lending tools for banks and other financial firms.
Compound has processed about $480 billion in deposits and borrowing volume since launching in 2018, according to its Foundation.
Following the announcement, Compound (CRYPTO:COMP) had no verified market movement attributed solely to the programme.