Decentralized lending platform Clearpool has announced that it will launch an institutional lending platform.
Along with its service, Clearpool Prime will allow corporate borrowers to create borrowing pools that are permitted under their own loan terms.
Clearpool Prime to Launch Borrowing Platform for Institutional Clients
Clearpool, a decentralized finance (DeFi) lending protocol, shared a blog post outlining its 2023 plans. The company will launch its non-custodial corporate borrowing platform, Clearpool Prime, in the first quarter of this year, as part of its 2023 plans.
Institutional borrowers, after passing KYC (customer recognition) checks, will be able to create pools of authorized borrowings on Clearpool Prime with their own loan terms such as volume, duration and interest rate. They will also be able to invite lenders to this pool.
Clearpool is a Blockchain-based lending platform that hosts borrowing pools between borrowers and lenders. When lenders provide liquidity to a pool, they receive pool-specific cpTokens in return. Holders of the protocol’s management token CPOOL can participate in voting and stake their tokens to earn rewards. According to data from Clearpool’s credit dashboard, approximately $350 million in stablecoin loans have been created in Clearpool on the Ethereum and Polygon Blockchains so far.
