DeFi
BMO’s Clearpool launches on credit marketplace Arbitrum
Clearpool, a US-based agency broker and algorithmic trading specialist and member of BMO Financial Group, has launched on credit marketplace Arbitrum as it seeks to expand the reach of its offering.
Additionally, Clearpool received an ARB token grant from the Artibutrum Foundation to support the growth and technical development of the protocol.
Nina Rong, Head of Ecosystem Development at Arbitrum Foundation, said: “RWA loans have quickly become a popular investment vehicle for both institutions and retail traders.”
“We are proud to support Clearpool on the Arbitrum network and provide a grant to fuel the growth of the protocol within our community, while continuing to enhance our DeFi offerings for our growing and passionate ecosystem of traders.”
Learn more: BMO completes acquisition of Clearpool
Clearpool was founded in 2014 and primarily provides US-based broker-dealers with trading technology and agency execution services, with its flagship algorithmic trading management system designed to help clients meet best-in-class execution requirements.
This latest initiative will allow Clearpool to bridge the gap between traditional finance and decentralized finance (DeFi).
Jakob Kronbichler, CEO and co-founder of Clearpool, said the launch on Arbitrum marks a significant milestone for Clearpool “as a [we] “We are pioneering a new era of institutional-grade credit solutions, bridging the gap between traditional finance and DeFi.”
He added: “The 18 million USDC loaning on Arbitrum upon launch underscores the growing demand and credibility of the Arbitrum ecosystem. We look forward to leveraging Arbitrum’s robust Layer 2 solutions to provide our users with enhanced security and scalability for our on-chain lending marketplace.”