Clearpool Plans RLUSD Institutional Lending on XRPL
Ripple is set to join an institutional credit fund as a limited partner, with the fund designed to lend RLUSD to fintech companies seeking working capital. Clearpool outlined the proposed expansion to the XRP Ledger (XRPL) in a governance proposal published on September 11, 2026.
The initiative is being developed with Cicada Partners and Hex Trust and is intended to introduce the first institutional credit product built natively around RLUSD.
Alessio Quaglini, co-founder of Clearpool and CEO and co-founder of Hex Trust, described the project as an important step for the RLUSD ecosystem in an exclusive comment to CryptoNews.com.
Quaglini said the partners are excited about creating the first institutional credit offering centered directly on Ripple’s stablecoin.
He said the goal is to give fintech companies access to efficient and transparent working capital while creating secure and compliant yield opportunities for institutional lenders.
Clearpool Provides the Lending Infrastructure
The proposed model divides infrastructure responsibilities from credit underwriting. Clearpool would develop and operate curated credit vaults using XLS-65 Single Asset Vaults.
The XLS-65 standard allows deposits from multiple lenders to be pooled into vaults dedicated to individual tokens. The vaults can also include optional permissioning features.
Loan origination, servicing and repayment would be handled through the XLS-66 Lending Protocol. The protocol is designed to support fixed-term, uncollateralized lending directly on the ledger rather than relying on smart contracts.
Cicada Partners would oversee the credit-management process. Its duties would include sourcing borrowers, establishing loan covenants and assessing repayment performance. The company says it has underwritten more than $860M to date.
Ripple would supply capital as a limited partner alongside other institutional investors, while Hex Trust would act as the designated institutional custodian. The structure could be particularly important as the regulatory framework surrounding stablecoins continues to develop across global markets.
Ripple Won’t Serve as a Backstop
The governance proposal separates the roles of the participating firms. Clearpool would provide the infrastructure for originating, servicing and repaying loans, while Cicada would decide which borrowers qualify for funding.
Ripple’s involvement would be limited to its position as a capital provider. It would not guarantee losses or cover borrower defaults, meaning it would not act as a backstop for the credit facility.
Clearpool cited RLUSD’s expanding supply as another reason for pursuing the project. The company said more than $2.3 billion worth of RLUSD is now in circulation, achieved within two years, pointing to an established ecosystem around the stablecoin.
Interest in institutional XRP-related products has also been rising. CoinGlass data showed XRP ETFs recorded $11.26M in net inflows on September 14.
Clearpool Targets Private Credit on XRPL
Clearpool aims to establish a private-credit market on XRPL similar to Morpho. The proposed system would use independent curators to oversee isolated XLS-65 vaults, with capital deployed to borrowers through XLS-66.
The XRPL expansion would complement Clearpool’s existing EVM-based marketplace rather than replace it. Clearpool believes the XRPL upgrade introduced in late 2025, which added native lending and compliance features, could give the company an early-mover advantage and help generate network effects.
Recent movements by large XRP holders have also suggested increasing institutional engagement with the ledger. However, RLUSD holders and payments-focused fintech companies remain the targeted users, and Clearpool has not confirmed any depositors or borrowers currently operating within live vaults.
