Clearpool has successfully launched the first institutional credit product on the XRPL network, marking a major milestone for Ripple's ecosystem development. As reported by CryptoNews.com, the initiative was announced through a governance proposal on September 11, 2026, developed in partnership with Cicada Partners and Hex Trust. Alessio Quaglini, co-founder of Clearpool and CEO of Hex Trust, emphasized the significance of this development, stating "We're incredibly excited about this development. This initiative is a major milestone because it marks the very first institutional credit product built natively around Ripple's new RLUSD stablecoin." The partnership aims to unlock highly efficient, transparent working capital for fintechs while providing secure, compliant yield opportunities for institutional lenders.
The institutional credit product operates through XRPL's proposed standards including Single Asset Vaults (XLS-65) and the Lending Protocol (XLS-66). As reported by CryptoNews.com, Clearpool's plan separates the plumbing from the underwriting, with the company building and operating curated credit vaults using XLS-65 Single Asset Vaults that pool deposits from multiple lenders into token-specific vaults with optional permissioning. Loans are then issued, serviced, and repaid through XLS-66 Lending Protocol, which is designed to handle fixed-term, uncollateralized credit directly at the ledger level rather than through smart contracts. Cicada Partners serves as the credit manager, sourcing borrowers, setting loan covenants and monitoring repayment health, with the firm having underwritten more than $860 million to date. Ripple provides capital as a limited partner alongside other institutional investors, functioning as a limited partner without guaranteeing against losses, while Hex Trust serves as the designated institutional custodian partner.
The institutional credit fund leverages RLUSD's impressive growth trajectory, with the stablecoin achieving over $2.3 billion in circulation within two years of its December 2024 launch. As reported by CryptoNews.com, RLUSD provides regulated dollar settlement for U.S. users, issued by Standard Custody & Trust Company under New York State Department of Financial Services supervision. The stablecoin crossed $2 billion in market value in August, with approximately $963 million issued on XRPL and about $1.05 billion on Ethereum. Clearpool aims the product at fintechs, payments firms, and crypto service providers that need working capital, framing the yield as 'real-world yield on RLUSD' with custody through Hex Trust.
The partnership brings substantial institutional experience to the XRPL ecosystem. Clearpool has originated more than $930 million in institutional loans, while Cicada Partners has underwritten over $860 million, giving the ecosystem a combined track record of nearly $1.8 billion ready for deployment on XRPL. As reported by CryptoNews.com, Clearpool aims to become the Morpho of private credit on the XRPL by using independent curators for isolated XLS-65 vaults and directing capital to borrowers through XLS-66. The initiative runs alongside the existing EVM-based Clearpool marketplace, with Clearpool believing that early establishment can yield significant network effects as the XRPL's late-2025 upgrade introduces native lending and compliance tools. Recent discussions about large XRP holder movements indicate growing institutional interest in the ledger, with institutional interest in XRP-related products growing, as shown by recent XRP ETF inflows, with yesterday (September 14) finishing with $11.26 million in positive flows.
