Clearpool Enters XRPL Ecosystem With Institutional Credit Expansion

Clearpool Brings RLUSD Lending Plans to XRPL

Ripple is planning to invest as a limited partner in an institutional credit fund that would extend RLUSD-based working-capital loans to fintech companies. Clearpool detailed its planned move onto the XRP Ledger (XRPL) in a governance proposal published on September 11, 2026.

The initiative, which involves Cicada Partners and Hex Trust, is designed to launch what would be the first institutional credit product built natively around RLUSD.

Alessio Quaglini, co-founder of Clearpool and CEO and co-founder of Hex Trust, said the project marks a major step for the stablecoin in comments provided exclusively to CryptoNews.com.

According to Quaglini, the initiative will bring institutional credit infrastructure directly to RLUSD. He said the partners aim to make working capital more efficient and transparent for fintech companies while offering institutional lenders secure, compliant opportunities to earn yield.

Lending Infrastructure Built on XRPL

Clearpool’s proposed model keeps the lending infrastructure separate from the credit underwriting process. The company would create and manage curated credit vaults through XLS-65 Single Asset Vaults.

The XLS-65 standard enables multiple lenders to deposit funds into token-specific vaults and allows permissioning to be added where required.

Once capital is deposited, loans would be originated, serviced and repaid using the XLS-66 Lending Protocol. The protocol supports fixed-term, uncollateralized credit directly at the ledger level, eliminating the need to process the loans through a smart contract.

Cicada Partners would oversee underwriting and credit management. Its responsibilities would include identifying borrowers, establishing loan covenants and tracking borrowers’ repayment health. Cicada says it has underwritten more than $860M in credit to date.

Ripple would join the fund as a limited partner, contributing capital alongside other institutional investors. Hex Trust has been selected as the institutional custody partner, a role that could become increasingly important as stablecoin regulations continue to develop worldwide.

Ripple Won’t Guarantee Borrower Losses

The governance proposal also establishes a clear division of responsibilities. Clearpool would operate the infrastructure needed for loan origination, servicing and repayment, while Cicada would determine which borrowers receive financing.

Ripple’s involvement would remain limited to its role as an institutional investor. It would not guarantee the loans, cover potential losses or act as a backstop for borrowers.

Clearpool pointed to RLUSD’s expanding circulation as evidence of growing demand for the project. The company said RLUSD has surpassed $2.3 billion in circulation within two years, giving the stablecoin an established base of users.

Institutional activity around XRP products has also increased. CoinGlass data showed XRP ETFs recorded $11.26M in positive flows on September 14.

Clearpool Eyes XRPL Private Credit

Clearpool is positioning the project as a potential private-credit marketplace on XRPL, drawing comparisons with Morpho. The planned system would allow independent curators to oversee separate XLS-65 vaults and direct funding to borrowers through XLS-66.

The XRPL initiative would run alongside Clearpool’s existing EVM-based marketplace. The company expects the XRPL upgrade released in late 2025, which introduced native lending and compliance features, to provide an opportunity for early adoption and stronger network effects.

Recent movements involving large XRP holders have pointed to increasing institutional interest in the XRPL ecosystem. However, the proposed product is still focused on RLUSD holders and payments fintechs, with no confirmed depositors or borrowers currently active in operational vaults.