Clearpool Proposes XRP (XRP) Ledger Expansion With 1:1 CPOOL-to-CLEAR Migration

Clearpool Bets on XRPL Credit Rails

Clearpool, the institutional credit protocol, put forward a proposal on September 11 to extend its lending business to the XRP Ledger, the blockchain that settles XRP settlement, pairing the expansion with a full restructuring of its token economy. Under the plan, existing CPOOL holders would migrate one-for-one into a new token, CLEAR, which becomes the protocol's core asset. The proposal allocates 70% of the new supply to migrating CPOOL holders, with the remaining 30% reserved for the ecosystem, the treasury, and contributors. At migration, total supply would rise from the current 1 billion CPOOL to 1.125 billion CLEAR, then expand in stages to roughly 1.428 billion over three years.

The restructuring reflects a resource problem the protocol can no longer work around: 99% of CPOOL's supply is already in circulation, and the growth reserve set aside at launch has been exhausted. Clearpool argues it needs fresh resources for development funding, capital attraction, and adoption incentives. The technical foundation rests on two XRPL standards still awaiting activation — the Single Asset Vault (XLS-65) and the Lending Protocol (XLS-66) — which would let institutions access credit and leverage products natively on the ledger. Neither standard is live on mainnet; both require completion of the validator approval process. Clearpool also plans to route 50% of protocol fees into market buybacks and permanent token burns, and the entire reorganization executes only if token holders approve it in a governance vote. Ripple, for its part, has committed to invest in Clearpool to develop yield products denominated in XRP and its RLUSD stablecoin, though the proposal document discloses no investment amount.

21Shares Lays Out the Bull Case

Separately, Swiss asset manager 21Shares has published an investment case for XRP ecosystem assets, citing four pillars: regulatory clarity, institutional access, growing XRPL utility, and a predictable supply. On regulation, the report points to the August 2025 conclusion of Ripple's years-long dispute with the US Securities and Exchange Commission, which removed what it calls a major compliance obstacle for institutions, with the regulatory environment improving further in 2026. On access, several spot XRP ETFs reached Wall Street last November and drew over $1 billion within about six weeks; cumulative inflows have since pushed to an all-time high above $1.7 billion, even in a year many holders would classify as a bear market.

On usage, the report notes the XRP Ledger processed close to $500 billion in on-chain value over the past 12 months — consistent with XRPL payment volume trends we have tracked — while Ripple's RLUSD stablecoin expanded from a $72 million market cap to $1.6 billion in under two years, a buildout aligned with Ripple's push to scale RLUSD toward treasury flows. Tokenized assets on XRPL recently hit $4 billion, targeting payments, stablecoins, and real-world assets. The report also flags one major risk that continues to haunt the asset, which its published summary does not spell out. Commentator Vincent Van Code weighed in on the report, arguing Ripple's infrastructure amounts to an “out-of-the-box, turnkey end-to-end solution” for institutional adoption. Readers tracking the market in real time can follow live spot and futures prices on Bitget.

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XLS-66 Approval Decides the Buildout

Our reading is that both stories describe the same arc from opposite ends: 21Shares frames the demand side — regulated products, ETF channels, ledger utility — while Clearpool's proposal supplies the credit primitives institutions would actually use. The binding constraint is verifiable in the primary documents themselves: the proposal states the CPOOL-to-CLEAR migration proceeds only after a token-holder governance vote, and the XLS-65 and XLS-66 standards it depends on remain unratified by validators. Demand-side inflows are real but not one-directional — recent whale distribution shows large holders trimming exposure even as institutional rails take shape. Whether XRPL's institutional thesis compounds now hinges on validator approval, not on sentiment.