.ClearpoolFin will deploy its institutional credit platform Prime exclusively on 0xPolygon and has opened the onboarding and whitelisting process for institutional borrowers and lenders to Prime. sndr_krisztian reports
Decentralized finance protocol Clearpool will deploy its institutional credit platform Prime exclusively on Ethereum scaling tool Polygon network, the protocol told CoinDesk in a statement.
“We have been working closely with the Polygon team since we launched the permissionless protocol on Polygon in June,” Rob Alcorn, CEO and co-founder of Clearpool, said in an email. “We have a strong relationship and continue to work together to deliver institutional DeFi products.” Clearpool Prime will act as an institutional-grade capital marketplace, where borrowers can create credit pools, and liquidity providers can invest to earn yield. The platform is set to start operating in the first quarter of this year, CoinDesk“Expect to see a wide range of borrower profiles: from traditional trading firms to various types of crypto-native players,” Jakob Kronbichler, Clearpool’s co-founder and chief operating officer, said in a statement.
On Monday, the protocol also opened the onboarding and whitelisting process for institutional borrowers and lenders, who must endure know-your-customer checks to be fully compliant, according to the protocol’s press release. Clearpool’s move to build on Polygon is significant because borrowing and lending activity on competitor protocols like
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