Clearpool Migrates to XRP Ledger, Launches CLEAR Token in DeFi Push
Ripple's XRP Ledger has just gained another major partner in its DeFi ambitions. Clearpool, a credit protocol, is moving its core infrastructure to the XRPL and launching its native token, CLEAR, on the network.
This move marks a significant shift for Clearpool, which was previously tied exclusively to the Ethereum ecosystem. The new partnership with Ripple's XRP Ledger will allow Clearpool to tap into the vast reserves of liquidity within the XRPL ecosystem, which had long been idle due to a lack of flexible financial instruments.
The launch of the XRPL v3 upgrade has finally enabled native lending mechanisms on the network, and Clearpool is entering this market at its earliest stage. The project aims to replicate the success of Morpho's model on Ethereum, which has attracted over $14 billion in deposits, but apply it to real-world businesses and private credit.
The new CLEAR token will be used to finance fintech and payment companies through an institutional credit fund launched by Clearpool and Cicada Partners. Ripple itself has joined the fund as a limited partner, providing capital needed to supply liquidity to the first lending pools.