Clearpool Pivots to XRP Ledger, Tapping Institutional Credit Market

Clearpool is advancing its institutional lending framework to the XRP Ledger (XRPL), marking a significant expansion for the network. The move aims to tap into the largely untapped institutional credit market, with Clearpool citing XRPL's proven track record as a major opportunity for growth.

Clearpool plans to grow its blockchain on the XRPL network and migrate its CPOOL token to CLEAR, offering existing members 1:1 CLEAR tokens in exchange. The new protocol will utilize XRPL's Single Asset Vaults (XLS-65) and Lending Protocol (XLS-66) standards, which Clearpool describes as 'native, institutional-grade credit rails.'

Ripple has committed investment to launch Clearpool's yield products for XRP and RLUSD, with the latter serving as a regulated settlement asset. The token migration will be accompanied by a treasury recapitalization, with 70% of new CLEAR supply allocated to existing token holders.

The proposed allocation includes 10% to the ecosystem, 15% to treasury, and 5% to contributors. A buyback and burn mechanism is also included, with half of protocol fees allocated for the purchase of CLEAR from the open market and permanent destruction.