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Clearpool is moving into the XRP Ledger. The platform announced on September 11, 2026 a plan to launch the first institutional credit product on XRPL, built around Ripple’s RLUSD stablecoin and aimed squarely at giving fintech companies access to working capital.
The partners behind it are Ripple, Cicada Partners, and Hex Trust. Alessio Quaglini — who holds the dual role of Clearpool co-founder and Hex Trust CEO — said the goal is to deliver efficient, transparent capital solutions for fintechs while giving institutional lenders a secure yield opportunity. It’s a pitch that’s pretty much tailor-made for a moment when big-money players are hunting for yield outside traditional fixed income. Quaglini didn’t lay out a specific timeline for when the vaults go live, but the mechanics are already mapped out in some detail. The project is still at the proposal stage, which matters — there are no confirmed depositors or borrowers yet in the operational vaults.
No confirmed participants. Not yet.
How the Credit Vaults Actually Work
The technical structure separates credit vault management from underwriting, which is probably the most important design choice here. Clearpool plans to use XLS-65 Single Asset Vaults — pools that take deposits from multiple lenders and sort them into token-specific vaults. Loans get issued, serviced, and repaid through the XLS-66 Lending Protocol, which runs directly at the ledger level rather than through traditional smart contracts. That’s a meaningful distinction. It means the credit infrastructure sits natively on XRPL rather than relying on a separate execution layer.
Cicada Partners handles the credit side. They source borrowers, set loan covenants, and track repayment health. Cicada claims to have underwritten more than $860 million in loans to date, so they’re not walking in blind. Ripple comes in as a limited partner, putting capital in alongside other institutional investors — but Ripple isn’t guaranteeing borrower loans. It’s providing money, not a backstop. That distinction matters as stablecoin regulations keep shifting globally and everyone is watching who assumes what kind of risk.
The vaults will also offer optional permissioning, which gives lenders an added layer of control over who can access the pool.
RLUSD’s $2.3 Billion Base and the XRP ETF Signal
RLUSD has crossed $2.3 billion in circulation within two years of launch. That’s the foundation Clearpool is betting on — a stablecoin with real scale and a growing depositor and borrower base. Institutional credit products need liquidity depth to function, and $2.3 billion is a number that at least clears the credibility threshold.
And there’s a broader market signal worth noting. XRP ETF inflows hit $11.26 million in positive flows the day before Clearpool’s announcement. Whether that’s coincidence or timing, the number suggests institutional appetite for XRPL-based exposure is real and growing. Clearpool is essentially trying to catch that wave before the space gets crowded.
The broader strategy is ambitious. Clearpool wants to position itself as something like a Morpho for private credit inside the XRPL ecosystem — a reference to the decentralized lending architecture that’s gained traction in Ethereum-based DeFi. The idea is to replicate that model but for uncollateralized, fixed-term institutional credit on a different ledger entirely. It’s a different beast. Private credit on-chain carries risks that overcollateralized DeFi lending doesn’t, and the lack of confirmed borrowers so far is the gap that’ll define whether the product actually gets off the ground.
CPOOL Token Swap and Infrastructure Migration
Clearpool isn’t just building a new product on XRPL — it’s planning to migrate its entire credit infrastructure to the ledger. Part of that transition includes a 1:1 swap for existing CPOOL tokens. No further details on the swap mechanics were provided in the announcement, so holders probably want to watch for follow-up disclosures.
The XRPL itself got a recent upgrade adding native lending and compliance tools, which is basically what made Clearpool’s proposal feasible in the first place. Without those native capabilities, building institutional-grade credit infrastructure on the ledger would’ve been a much harder lift.
Cicada Partners will manage the curated credit vaults, sourcing borrowers and setting terms. Ripple sits in as a capital provider. Hex Trust, through Quaglini’s involvement, brings the institutional custody angle. Each party has a defined lane — and staying in those lanes is going to be critical as the project moves from proposal to live product.
Cicada’s $860 million in underwritten loans is the number to watch as a credibility anchor.
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Frequently Asked Questions
What is Clearpool launching on the XRP Ledger?
Clearpool is launching the first institutional credit product on XRPL, using Ripple’s RLUSD stablecoin to provide working capital to fintech companies through XLS-65 vaults and the XLS-66 Lending Protocol.
Who are Clearpool’s partners in this project?
The project involves Ripple as a limited partner providing capital, Cicada Partners handling credit management and borrower sourcing, and Hex Trust, whose CEO Alessio Quaglini is also a Clearpool co-founder.
Why It Matters
The launch of Clearpool's institutional credit product on the XRP Ledger signals a significant step in the integration of blockchain technology within traditional finance, particularly for fintech companies seeking efficient capital solutions. By leveraging Ripple's RLUSD stablecoin, this initiative not only enhances liquidity options in the crypto space but also reflects growing institutional interest in utilizing decentralized financial instruments, potentially setting a precedent for future collaborations between blockchain platforms and traditional financial entities.
