Clearpool Partners with Jane Street and BlockTower Capital to Develop a $25 Million Permissioned

Clearpool, decentralized finance (DeFi) lending system, announced the opening of a permissioned liquidity pool alongside Jane Street, a quantitative trading firm, and BlockTower Capital, a crypto and blockchain investment firm, on Tuesday.d liquidity pool. The liquidity pool has been seeded with USDC tokens, a type of cryptocurrency known as a stablecoin worth $25 million, with ambitions to grow it to $50 million. Sequoia Capital, Arrington Capital, Sino Global Capital, and HashKey are among the investors of Clearpool, which facilitates uncollateralized loans for institutions. Jane Street Stepping Into DeFi: Bloomberg The company is going to initially borrow up to $25 million in USDC, with plans to scale up to $50 million. It will borrow from crypto firm BlockTower Capital and will do so through Clearpool — db (@tier10k) May 3, 2022 Permissioned pools have more stringent know-your-customer standards, allowing institutional borrowers to borrow stablecoins from a decentralized network of retail and institutional lenders. Lenders who join the network receive lucrative yields and prizes in CPOOL, the protocol’s native coin. “The introduction of this pool with Jane Street and BlockTower suggests that the migration has already begun,” said Robert Alcorn, CEO and co-founder of Clearpool. In a press statement, Clearpool stated, “This is the first time a major Wall Street firm has participated in a borrowing transaction using the DeFi ...