DeFi Giant MakerDAO Rejects $100M Stablecoin Loan to State-Chartered Regulated Bank Cogent Bank

Cogent Bank, a Florida-based, state-chartered bank with more than $1 billion in total assets, proposed borrowing up to $100 million in DAI stablecoin from Maker and would have used the funds to extend loans to its corporate and industrial clients, according to the MIP-95 proposal posted on Maker’s governance forum.