MakerDAO votes on entering into a $100 million loan with Florida commercial bank

© Reuters.

Cryptocurrency lending platform MakerDAO is voting on a new proposal to bring another commercial bank into its ecosystem, strengthening the connection between Decentralized Finance (DeFi) and traditional finance.

According to the MakerDAO governance forum, Cogent Bank — a commercial bank based in Florida — is propose to join with a $100 million loan to MakerDAO’s RWA Key Participation Trust.

Cash flow diagram, Maker Vault/Cogent Bank. Source: MakerDAO’s Forum