Clearpool proposes full migration to XRP Ledger for institutional credit products

Clearpool, the institutional lending protocol that has originated over $965 million in loans since 2021, is proposing a full migration to the XRP Ledger. The move would bring its entire credit infrastructure onto XRPL and introduce a new token, new credit standards, and a Ripple-backed fund targeting fintech borrowers.

The governance proposal was opened for community discussion on September 11, 2026. If approved, it would represent one of the most significant protocol migrations in recent DeFi history, effectively relocating an established lending platform from its current infrastructure to a completely different chain.

What the migration actually involves

At the core of the proposal is a token swap: Clearpool’s existing CPOOL token would be exchanged for a new CLEAR token at a 1:1 ratio.

The initial total supply of CLEAR would be set at 1.125 billion tokens, with a long-term target of 1.428 billion due to scheduled unlocks. The allocation breaks down as follows: 70% goes to existing CPOOL holders, 15% is earmarked for treasury and partnerships, and the remaining 15% is split between ecosystem incentives and contributors.

To offset dilution concerns, Clearpool is proposing that 50% of all protocol fees go toward open-market buybacks and permanent burns of the CLEAR token.

The protocol currently holds $30 million in Total Value Locked.

The Ripple and Cicada connection

Ripple is participating as a limited partner in a new credit fund that will focus on RLUSD-denominated institutional loans for the fintech sector. Ripple’s exact financial commitment to the fund remains undisclosed.

Cicada Partners, which has historically underwritten more than $860 million in loans, will handle credit risk assessment and borrower sourcing for the new fund.

New credit standards still need validator approval

The migration also introduces two proposed XRPL standards that would power Clearpool’s credit products: Single Asset Vaults (XLS-65) and Lending Protocol (XLS-66).

Both XLS-65 and XLS-66 require 80% validator approval before they can activate on mainnet. That threshold hasn’t been met yet, and until it is, Clearpool’s most ambitious product plans remain theoretical.

Why XRPL, and why now

XRPL has positioned itself as a payments-first blockchain with growing ambitions in tokenized finance. RLUSD’s launch gave the ecosystem a regulated stablecoin that bridges traditional finance expectations with on-chain settlement.

Clearpool’s $965 million in loan originations demonstrates that institutional demand for on-chain credit exists. For existing CPOOL holders, the 1:1 swap and 70% allocation provide a relatively clean transition path, though the supply expansion to 1.125 billion (and eventually 1.428 billion) tokens introduces dilution that the buyback-and-burn mechanism would need to offset.

The validator vote on XLS-65 and XLS-66 is the first domino that needs to fall. Everything else — the credit fund, the RLUSD lending products, the full protocol migration — builds on those two amendments reaching the 80% threshold.

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