Clearpool launches Credit Vaults on Avalanche to enhance lending efficiency through RWA

2024-04-02 21:36:44

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ChainCatcher news, the on-chain credit market Clearpool has launched Credit Vaults on Avalanche. Credit Vaults aim to enhance lending efficiency through real-world assets (RWA) such as private credit. Credit Vaults will provide institutions with unsecured loans and exclusively host Clearpool's first RWA pool on Avalanche.

It is reported that the initial Credit Vault is launched by Banxa, a publicly listed global infrastructure provider that supports the embedding of cryptocurrency in the payment space, aiming to meet the needs of borrowers and lenders in the blockchain environment. Clearpool tokenizes the loans issued to Banxa and transfers them on-chain. Lenders will receive a cpToken in return, representing their share in the pool, and interest will be compounded automatically. Banxa's Credit Vault offers a 7-day repayment period and additional rewards in AVAX tokens.

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