Ripple plans to invest as a limited partner in an institutional credit fund to lend its RLUSD stablecoin to fintech companies for working capital, as Clearpool announced an expansion onto the XRPL (XRP Ledger) in a governance proposal on September 11, 2026.
Developed in partnership with Cicada Partners and Hex Trust, this initiative aims to create the first institutional credit product on RLUSD.
Alessio Quaglini, co-founder of Clearpool and also CEO and co-founder of Hex Trust, gave this exclusive comment to CryptoNews.com regarding the announcement.
“We’re incredibly excited about this development. This initiative is a major milestone because it marks the very first institutional credit product built natively around Ripple’s new RLUSD stablecoin.” Quaglini said.
He added, “Ultimately, what we hope to achieve together is to unlock highly efficient, transparent working capital for fintechs while providing secure, compliant yield opportunities for institutional lenders.”
How the Proposed RLUSD Credit Rails Would Work Between Clearpool and XRPL
Clearpool’s plan separates the plumbing from the underwriting. Clearpool says it will build and operate curated credit vaults using XLS-65 Single Asset Vaults, a standard that pools deposits from multiple lenders into token-specific vaults with optional permissioning.
Loans would then be issued, serviced, and repaid through the XLS-66 Lending Protocol, which is designed to handle fixed-term, uncollateralized credit directly at the ledger level rather than through a smart contract.
Cicada Partners would sit on top of that infrastructure as the credit manager, sourcing borrowers, setting loan covenants and monitoring repayment health; the firm says it has underwritten more than $860M to date.
Ripple would provide capital as a limited partner alongside other institutional investors. Hex Trust is the designated institutional custodian partner, and these mechanics matter for a stablecoin regulatory landscape that is still taking shape globally.
Ripple, Cicada Partners, and the First Credit Fund on the XRP Ledger
The proposal clearly defines responsibilities: Clearpool serves as the infrastructure for loan origination, servicing, and repayment, while Cicada selects borrowers.
Ripple’s role is narrower: it functions as a limited partner alongside other institutional investors, providing capital without guaranteeing against losses. This clarifies Ripple’s financial commitment and confirms it is not a backstop for borrowers.
Clearpool highlights RLUSD’s growth as justification for the project, noting over $2.3Bn in circulation within two years, reflecting an established depositor and borrower base around the stablecoin.
Institutional interest in XRP-related products has grown, as shown by recent XRP ETF inflows, with yesterday (September 14) finishing with $11.26M in positive flows, per CoinGlass data.
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Clearpool aims to become the Morpho of private credit on the XRPL by using independent curators for isolated XLS-65 vaults, directing capital to borrowers through XLS-66.
This approach runs alongside the existing EVM-based Clearpool marketplace. With the XRPL’s late-2025 upgrade introducing native lending and compliance tools, Clearpool believes that early establishment can yield significant network effects.
Recent discussions about large XRP holder movements indicate growing institutional interest in the ledger. However, RLUSD holders and payments fintechs remain a targeted user base, without confirmed depositors and borrowers in operational vaults.
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