Clearpool Brings Institutional Credit to XRPL With New Lending Product

Clearpool and Ripple Expand RLUSD Credit

Ripple plans to participate as a limited partner in an institutional credit fund that will lend its RLUSD stablecoin to fintech firms for working-capital needs. The move follows Clearpool’s announcement on September 11, 2026, of its expansion onto the XRPL (XRP Ledger) through a governance proposal.

The initiative, developed with Cicada Partners and Hex Trust, is intended to establish the first institutional credit product built around RLUSD.

Alessio Quaglini, Clearpool co-founder and Hex Trust CEO and co-founder, shared an exclusive comment with CryptoNews.com about the development.

Quaglini said the initiative represents a significant milestone because it is the first institutional credit product designed natively around Ripple’s RLUSD stablecoin.

He said the partners ultimately aim to provide fintech companies with efficient and transparent working capital while creating secure and compliant yield opportunities for institutional lenders.

Clearpool to Handle the Infrastructure

Clearpool’s proposed structure separates the technical infrastructure from credit underwriting. The company plans to develop and manage curated credit vaults using XLS-65 Single Asset Vaults.

The standard allows deposits from multiple lenders to be pooled into asset-specific vaults, with permissioning available as an optional feature.

Loan issuance, servicing and repayment would take place through the XLS-66 Lending Protocol. The protocol is designed to support fixed-term, uncollateralized lending directly on the ledger instead of relying on a smart contract.

Cicada Partners would manage the credit side of the operation. Its responsibilities would include finding borrowers, establishing loan covenants and monitoring borrowers’ repayment capacity. Cicada says it has underwritten more than $860M so far.

Ripple would participate by supplying capital as a limited partner alongside other institutional investors. Hex Trust would serve as the designated institutional custody partner. These arrangements are particularly relevant as regulators worldwide continue developing rules for stablecoins.

Ripple’s Role Remains Limited

The proposal lays out the responsibilities of each participant. Clearpool would provide the infrastructure required for originating, servicing and repaying loans, while Cicada would be responsible for selecting borrowers.

Ripple’s involvement would be limited to providing capital as a limited partner alongside other institutional investors. It would not guarantee losses or act as a backstop for borrowers, making the scope of its financial exposure clearer.

Clearpool points to RLUSD’s expansion as a key reason for pursuing the project. The company said RLUSD has surpassed $2.3 billion in circulation within two years, indicating an established ecosystem of users around the stablecoin.

Institutional demand for XRP-linked products has also increased. Recent XRP ETF activity reflects that trend, with September 14 ending with $11.26 million in net positive flows, according to CoinGlass data.

Clearpool Targets Private Credit on XRPL

Clearpool wants to position itself as the “Morpho of private credit” on XRPL. Its model would rely on independent curators managing isolated XLS-65 vaults and allocating capital to borrowers through XLS-66.

The XRPL expansion would operate alongside Clearpool’s existing EVM-based marketplace. The company believes the XRPL’s late-2025 upgrade, which introduced native lending and compliance capabilities, could give early participants an opportunity to build meaningful network effects.

Large XRP holder movements reported recently have also pointed to increasing institutional interest in the ledger. Still, RLUSD holders and payments-focused fintech companies remain the intended target users, and Clearpool has not confirmed that depositors or borrowers are already active in operational vaults.

About The Author