Compound Unveils $52M DAO-Approved Push for Institutional Onchain Credit

CoCompound is setting its sights on institutional credit with a $52 million development program approved by its DAO, as the lending protocol prepares products designed for financial institutions moving activity onchain.

The initiative, the largest development program in Compound’s history, will cover native support for real-world assets (RWAs), tools to improve capital efficiency, and integrations that would let institutions incorporate onchain lending into their services.

A newly appointed Compound Foundation leadership team will oversee the push. Aaron Schnarch has been named Executive Director, while Christopher Donovan will serve as COO, Leo Eikelman as CTO, and Steven Liu as CPO.

Compound launched in 2018 and says it has since handled roughly $480 billion in combined deposit and borrowing volume.

Source: Compound Foundation