DeFi protocol Clearpool launches on Coinbase’s Base blockchain  

DeFi credit marketplace Clearpool has announced the launch of its lending pool, ‘Credit Vaults,’ on Base, Coinbase’s blockchain network built on top of Ethereum. This move will provide institutional investors with access to on-chain, decentralized finance (DeFi) credit. Clearpool has partnered with crypto-native market-maker Portofino Technologies to lead its first credit vault on Base. Portofino utilizes advanced technology to facilitate the buying and selling of crypto assets across exchanges and over-the-counter markets, making it easier for institutions to borrow on Base. Clearpool emphasizes that credit vaults allow borrowers to customize parameters such as interest rates, repayment schedules, and KYC requirements, providing greater control and customization options. The vaults also incentivize lenders with higher interest rates and optimize efficiency to attract new participants. Clearpool’s credit vault on Base already holds over $105,000 in value, with the company originating more than $559 million of loans since its establishment in March 2022. The protocol has seen significant adoption, with 21 institutions, including Jane Street, Banxa, Flow Traders, and Wintermute, launching borrower pools on its platform. The decision to launch on Base was influenced by its open and permissionless nature, along with its security, stability, scalability, and seamless integration capabilities for fiat onramps. This launch coincides with the increasing involvement of legacy institutions in the crypto industry, such as Blackrock’s interest in Bitcoin and Ethereum exchange-traded funds.