Decentralized finance (DeFi) lending protocol Clearpool announced Tuesday the launch of a permissioned liquidity pool in partnership with quantitative trading firm Jane Street and crypto and blockchain investment firm BlockTower Capital.

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Fast facts

  • The liquidity pool has been funded with US$25 million worth of USDC tokens, a type of cryptocurrency referred to as a stablecoin, with plans to increase it to US$50 million. 
  • Clearpool facilitates uncollateralized loans for institutions and is backed by investors that include Sequoia Capital, Arrington Capital, Sino Global Capital and HashKey.
  • Permissioned pools have higher know-your-customer requirements and allow institutional borrowers to access stablecoin liquidity from a decentralized network of retail and institutional lenders. 
  • Lenders participating in the protocol get attractive yields along with rewards in the protocol’s native token CPOOL.
  • “Major traditional financial institutions are beginning to pay more attention to DeFi, and the launch of this pool with Jane Street and BlockTower indicates that the migration has already begun,” said Robert Alcorn, CEO and co-founder of Clearpool.

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