PANews reported on March 6 that Bitwise Asset Management announced that it has deployed decentralized finance (DeFi) loan products for the first time through cooperation with the on-chain credit protocol MapleFinance. The product selected by Bitwise is a Bitcoin-backed loan tool suitable for qualified investors in the United States.

Maple Finance CEO Sid Powell revealed that the cooperation took 12 months of due diligence, involving Bitwise's operations, legal, compliance and risk control teams. Bitwise currently manages assets of over $12 billion, covering crypto ETFs, private equity funds, hedge fund strategies and pledge businesses.