Ripple, Clearpool, and Cicada are introducing institutional lending services into XRP Ledger. The three parties plan to build a credit market around the native functions of XRPL, with loans settled in RLUSD. These related functions are not yet live on the mainnet, but this progress indicates that XRPL is moving beyond payments and transfers to extend into corporate credit scenarios.

Clearpool Builds lending infrastructure using the XRPL protocol

Clearpool indicates that the XLS-65 single-asset treasury of XRPL and the XLS-66 lending protocol will be used to develop the relevant infrastructure. This project is jointly participated in by Ripple and Cicada, with the goal of enabling institutions to complete lending matching, fund settlement, and asset transfer on the blockchain.

The borrower needs to pass the review.

Cicada will be responsible for assessing the borrower's financial condition, cash flow, and credit history before deciding on the loan amount and interest rate. Both the borrower and lender need to complete the KYC and AML checks. Ripple will provide XRPL and RLUSD, and will also participate in providing liquidity.

XRPL Ecology or adding new use cases

The envisioned model is that screened enterprises can borrow RLUSD from institutional lenders and pay interest as agreed. If this platform integrates with XRPL's native AMM, market makers will also increase the frequency of using XRP when allocating funds between RLUSD and other assets. In addition, XRPL will eliminate all transaction fees, and the more transactions there are, the more XRP will be consumed on the chain.

Additional information:The article mentions that XRPL currently processes about 1.09 million transactions per day, and in the past 30 days, it has destroyed approximately 7,680.43 XRP.