MakerDAO has paid $1.5 million in stamp duty to purchase U.S. Treasury bonds

Bitget App

Trade smarter

Cointime2023/11/08 15:45

By:Cointime

According to DL News on November 8, MakerDAO recently paid approximately $1.5 million in stamp duty to the Swiss government due to trading US bonds in Switzerland. DeFi asset advisor Monetalis Clydesdale invested $500 million in US ETF on behalf of MakerDAO through Swiss encrypted bank Sygnum in October 2022. According to Swiss regulations for offshore entities, the transaction requires a stamp duty of 0.15%. MakerDAO needs to pay stamp duty once for buying and selling, so it paid approximately $1.5 million in total. As the cryptocurrency lending market shrinks, MakerDAO has expanded its physical asset portfolio to around $3.9 billion, mainly in US government bonds. In the future, it plans to further expand into private credit and loan securitization products.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.

APR up to 10%. Always on, always get airdrop.

Lock now!

Share link:In this post: A Bloomberg report suggested that Sony is working on a handheld PlayStation console that will support PS5 games. The report suggested the possibility of the device being years away from launch. Nintendo is currently the only console with a handheld device and will launch its successor next year, while Microsoft is also working on its handheld console.

Cryptopolitan•2024/11/25 16:22

UK plans to integrate crypto with traditional finance

Share link:In this post: The UK government is pushing for the integration of traditional finance and crypto assets. Bank of England and the Financial Conduct Authority launched the Digital Securities Sandbox. A Digital Assets Bill was also added to the UK Parliament.

Cryptopolitan•2024/11/25 16:22