Clearpool to launch institutional platform on Polygon

The crypto-lending protocol Clearpool chose Ethereum-based second-layer solutions Polygon to launch a platform aimed at institutional investors.

🏦 Gateway for institutions now open!

📈 #ClearpoolPrime paves the way for the growth of a transparent #digitalasset credit market infrastructure.

🚀 #ClearpoolPrime will be launched exclusively on @0xPolygon!

Read more 👇https://t.co/ABSKGQSspl$CPOOL $MATIC #onPolygon

1/4 pic.twitter.com/QnPhoh7LZz

— Clearpool (@ClearpoolFin) February 13, 2023

Clearpool Prime — a non-custodial trading venue. According to the press release, all users “undergo thorough checks under the KYC/AML programmes.”

“Borrowers can launch pools with individualized terms, while lenders will have access to yield opportunities with high-quality institutional counterparties, all in a secure environment that meets the requirements,” noted Clearpool.

Platform representatives added that, together with Polygon, they continue to work on institutional products in the DeFi segment. They plan to launch the new platform in the first quarter of 2023, with a waitlist currently open.

In May 2022, one of the world’s largest market makers, Jane Street, agreed with the crypto hedge fund BlockTower Capital to raise a USDC loan of about $25 million through Clearpool.

82% of clients with AUM of £1 million to £5 million ($1.23-6.15 million) over the last 12 months have sought investment advice from personal advisers on investing in cryptocurrencies, according to the deVere Group.

In February 2023, JPMorgan analysts said that 601 of 835 surveyed institutional traders do not plan investments in digital assets.