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