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DeFi Protocol Developer Archblock Aims to Onboard U.S. Community Banks With New Partnership

Archblock, a core developer of unsecured lending protocol TrueFi, is hoping to bring U.S-regulated community banks to decentralized finance (DeFi) protocols in a strategic partnership with Adapt3r, a subsidiary of alternative asset manager MJL Capital.

The two firms will provide blockchain-enabled access for treasuries of decentralized autonomous organizations (DAOs), crypto-native corporations and other institutional investors to traditional credit products from regulated banks, they said in a Thursday press release.

“We have a number of banks in our pipeline that range in size from $500 million to $5 billion in assets and have a history of conservatively originating loans,” Marcus Leano, founder and chief investment officer of MJL Capital, told CoinDesk.

(by Krisztian Sandor)

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