Compound, a DeFi lending protocol, launched a new borrowing service for institutional clients via its subsidiary Compound Treasury which offers institutional clients access to the Compound protocol. 

The service will enable clients to borrow US dollars or USDC, a dollar-pegged stablecoin at a fixed 6% annual percentage rate (APR), while using crypto as collateral. The loans must be over-collateralized, enabling users to borrow assets worth up to 90% of their collateral’s value. 

Analyst Quicktake: Compound competes with a number of other DeFi companies which offer institutional lending services such as Aave , Anchorage , and Maple Finance the latter of which announced a USD 40 million lending pool for institutional borrowers last month. Notably, this follow-up overcollateralized lending service may be an attempt by Compound to strengthen its B- credit rating which it received from S&P Global Ratings on its enterprise credit facility in May. At the time, the company claimed that it was the first  "institutional DeFi" product to be scored by a major credit rating agency.