Clearpool has officially launched on Arbitrum, marking a significant milestone with the issuance of $7 million in loans, along with a grant received.

The decentralized finance (DeFi) lending protocol, Clearpool has made its entrance onto the Layer 2 network. Arbitrum (ARB), providing a platform for users to both explore and create within the Ethereum ecosystem.

According to Jakob Kronbichler, CEO of Clearpool, in an interview with Cryptocurrencylistings, \"This partnership lets users take advantage of Arbitrum’s rapid transaction speeds and minimal fees, while also ensuring Ethereum-level security through Optimistic Rollup technology. This will not only enhance the speed but also cut down costs in Clearpool’s lending marketplace. Lenders get to enjoy heightened yields thanks to extra ARB rewards, enticing a diverse mix of lenders and giving borrowers more options.\" He further added, \"By tapping into Arbitrum’s expanding ecosystem, Clearpool can connect with an increasing network of both retail and institutional lenders.\"

This integration introduces Clearpool Prime, a high-caliber credit marketplace designed for institutions on Arbitrum. Since launching on this platform, $7 million in USDC loans have been allocated to Bastion Trading, a prominent global trading firm and liquidity provider within the digital asset sphere. Moreover, an additional loan was drawn today from Flow Traders, a trading firm listed on Euronext, pushing the cumulative loan total to $18 million, as per recent updates from the company.

Clearpool Additionally, the Arbitrum Foundation has granted ARB tokens to Clearpool to aid in the expansion and technical enhancements of the protocol.

Clearpool Prime aims to connect traditional private credit markets with the world of decentralized lending, showcasing the future trajectory of private credit. It meets a growing institutional requirement for on-chain credit by enabling transactions through non-custodial smart contracts in a fully compliant and KYC-verified environment. Since its inception, Clearpool Prime has facilitated loans exceeding $70 million.

Arbitrum With its cutting-edge Layer 2 scaling solutions, is playing a pivotal role in shaping Ethereum's future, allowing projects to develop advanced applications while ensuring their security. Ethereum As of now, Arbitrum boasts a total value locked (TVL) of $18.07 billion, with 2.61 million active wallets and over 1.1 billion completed transactions, capturing an impressive 39% share of the Layer 2 market.

This functions as a decentralized lending marketplace, allowing users to lend and borrow cryptocurrency without permissions. Individuals can earn compound interest on their assets by lending to verified institutions, benefitting from dynamic interest rates that adjust for risk, all while enjoying flexible withdrawal options.

This launch strategically positions Clearpool for further expansion within the rapidly growing Arbitrum ecosystem. Following its mainnet launch in 2022, more than $570 million in loans have been processed through Clearpool. As institutional interest in cryptocurrency escalates, Clearpool, in collaboration with Arbitrum, is ideally situated to attract the upcoming wave of institutions looking for compliant on-chain credit.

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