Clearpool Launches on Base: Enabling Institutional Access to Onchain Credit
Clearpool, the leading protocol pioneering DeFi credit, is thrilled to announce the launch of Credit Vaults on Base, an Ethereum L2 blockchain, incubated by Coinbase and built on the open-source OP Stack.
Portofino Technologies, a crypto-native HFT market-making institution that uses its cutting-edge technology to reduce the frictions of buying and selling digital assets across exchange and OTC markets, has pioneered the inaugural Credit Vault on Base.
Built as an open and permissionless Ethereum L2, Base offers the security, stability, and scalability needed to power onchain apps together with seamless integration capabilities for fiat onramps.
Credit Vaults allow borrowers to set their own parameters, including interest rates, repayment schedules, and KYC requirements, offering them greater control and customization options. By optimizing efficiency, Credit Vaults incentivize lenders with higher interest rates, attracting new participants. The flexibility of Credit Vaults opens doors for a diverse range of borrower types, paving the way for secured credit products and non-crypto-related firms to join the Clearpool ecosystem.
Since launch, over $530 million of loans have been originated on the Clearpool protocol. Notably, 21 institutions have entered Clearpool to launch borrower pools, including the Wall Street giant, Jane Street, listed firms Banxa and Flow Traders, and leading crypto trading firms such as Wintermute.
“Clearpool’s launch on Base has unlocked unparalleled access to its rapidly expanding top-tier ecosystem, which can seamlessly integrate with Coinbase’s market-leading suite of services and infra,” commented Jakob Kronbichler, CEO & co-founder of Clearpool. “This pivotal milestone unlocks opportunities for a wide range of institutions to securely and compliantly access private credit onchain.”
Clearpool’s launch on Base comes at a time when large institutions are making significant forays into the crypto ecosystem. Institutional adoption is accelerating after the Bitcoin and Ethereum ETFs, and BlackRock’s tokenized fund on Ethereum. Clearpool’s expansion to Base perfectly positions the protocol to onboard the influx of institutions seeking to access onchain credit.
About Clearpool
Clearpool is the leading decentralized finance credit marketplace. A permissionless protocol enables institutions to raise unsecured liquidity directly from DeFi markets, while a separate fully permissioned platform, Clearpool Prime, further meets the compliance needs for wholesale borrowing and lending of digital assets by institutional market participants. Liquidity providers on Clearpool earn attractive yields, with pool interest rates enhanced by additional rewards paid in CPOOL — the protocol’s utility and governance token. Clearpool LP tokens, called cpTokens, are the building blocks for a system of tokenized credit and on-chain risk management.
Launched in March 2022, Clearpool has originated over US$530 million in loans with a growing user base spanning both crypto and TradFi institutions such as Wintermute, Jane Street, Fasanara Digital, CoinShares, and others. The protocol launched on the Ethereum mainnet in March 2022, followed by the expansion to Polygon PoS in July 2022, Polygon zkEVM in July 2023, Optimism in October 2023, Mantle Network in February 2024, Avalanche in April 2024, and Flare in May 2024.
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