Ripple backs institutional credit fund for RLUSD working capital

Cicada Partners will serve as the general partner, overseeing credit risk and borrower sourcing, while Clearpool provides the technical framework for the credit pools. Ripple is participating as a limited partner under the same terms as other institutional investors, explicitly assuming no liability for potential losses. While the total size of the fund remains undisclosed, Cicada brings a track record of underwriting over $860 million in credit, and Clearpool’s platform has facilitated more than $930 million in loans since 2021.

Deployment hinges on the approval of two XRP Ledger amendments: XLS-65 for single-asset vaults and XLS-66 for the native lending protocol. Currently restricted to a development network, these features aim to move loan accounting on-chain while keeping underwriting processes off-chain. Security audits, including a formal verification by Common Prefix and a re-audit by Halborn, have already addressed potential vulnerabilities in the lending code. Once live, the system will allow institutions to supply and borrow liquidity without requiring XRP as collateral, positioning RLUSD as a primary asset for decentralized credit cycles.