The leading Defi lending platform has recently made an <a href="https://medium.com/compound-finance/announcing-compound-treasury-for-businesses-institutions-83d4484fb82e" target="_blank" rel="nofollow noopener">announcement</a> in a blog post shared on June 29, that the new Compound Treasury has been created for non-crypto native businesses and financial institutions. The firm revealed that the protocol has performed extraordinarily throughout the fluctuations in the market and has established itself as a pillar of the <a href="https://www.cryptoknowmics.com/news/everything-you-need-to-know-about-the-challenges-plaguing-the-defi-ecosystem-and-spherium-finance/">Defi</a> ecosystem. 
<h2>Compound Treasury Will Work With Crypto Custody Company Fireblocks</h2>
In the month of April, the crypto custody firm Fireblocks partnered with <a href="https://www.cryptoknowmics.com/news/keep-network-keep-and-badgerdao-badger-technical-analysis-what-to-expect/">BadgerDAO</a> and Circle, which is the company behind the USDC stablecoin. 

The firm revealed that the new product will be allowing Neobanks, fintech startups, and other large holders of USD in order to access the interest rates available in the USDC market on the protocol.

Well here, the client is only required to transfer USD into their Compound Treasury account and simultaneously gain allowance to interest rates of 4% annually. 

Talking about the deposits and withdrawals in the account, they can be made at any time with a 24-hour turnaround. In addition to this, it should be noted that there are no minimums and no maximums.  

Compound treasury revealed:

“Our vision is that Compound Treasury becomes the bridge for non-crypto financial institutions to deliver the core benefits of DeFi to the next billion users, and we are extremely excited to work with our customers to navigate this enormous opportunity.”
<h2>COMP Price Action Watch</h2>
The native <a href="https://www.cryptoknowmics.com/news/comp-technical-analysis-may-soon-fall-below-the-fibonacci-pivot-point-of-29425/">COMP token</a> of the Defi protocol has raised to 26.5% in the past 24 hours.

At the time of writing this article, COMP was changing hands at $317, which is around 42% up over the past week.

In accordance with the protocol called DappRadar, the total value locked at present is $5.7 billion, which is down from a peak of $9.4 billion in the month of May.

Compound DeFi Lending Platform Announces Treasury Product for Non-Crypto Native Businesses

The leading Defi lending platform has made an announcement that the new Compound Treasury has been created for non-crypto native businesses.

Sahaj is an aspiring journalist with a keen interest in cryptocurrency and the whole concept of Blockchain technology. He is positive about the future potential of Cryptocurrency and Blockchain in shaping the world of finance for good. At present, he is covering the latest developments in the field of the cryptosphere.

Compound DeFi Lending Platform Announces Treasury Product for Non-Crypto Native Businesses

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