Clearpool Debuts Institutional Credit Product on XRP Ledger with Ripple
Clearpool has launched an institutional credit product on the XRP Ledger, marking the first native offering of its kind. This initiative is a collaboration between Clearpool and Ripple, which provides both capital and technical support for the project. The new product uses Ripple's RLUSD stablecoin to fund working capital loans for fintech and payments companies.
The credit product, currently in testing on XRPL's Devnet, will require approval of new lending standards before going live. Cicada Partners is managing the credit risk associated with this venture.
Clearpool's token, CPOOL, has seen a decline in value, trading at Rp425 on Pluang as of September 15th, down 17.21%. Meanwhile, XRP experienced a modest gain of 0.88% during the same period, priced at Rp24,892.