One of the largest market makers, Jane Street, has reached an agreement to raise ~$25 million USDC loan with cryptocurrency hedge fund BlockTower Capital through Clearpool, an institutional-focused lending protocol.

Launched first Permitted Lending Pool in partnership with Clearpool @JaneStreetGroup & @BlockTower

The pool was initially funded with $25 million USDC and is planned to scale up to $50 million in the near future.

Learn morehttps://t.co/WuMmfcMhKZ$CPOOL pic.twitter.com/MH3lICx6Fv

– Clearpool (@ClearpoolFin) May 3, 2022

In 2020, Jane Street completed $17 trillion in securities transactions.

Depending on market conditions, the loan amount can be doubled.

Jane Street Capital and BlockTower Capital are implementing the initiative through Clearpool’s first private liquidity pool.

This structure allows enterprise-level borrowers with high KYC/AML requirements to access capital without providing a completely transparent list of lenders.

In addition, public liquidity pools have also been launched on the platform. Providers were Amber Group, Auros Global, FBG Capital, Folkvang and Wintermute. In these structures, whitelisted institutional borrowers can borrow as stablecoins from both retail investors and institutions.

The protocol lures lenders with secure access and competitive returns. The latter is created using the reward mechanism and is paid in the CPOOL. Local token staking is provided.

Launched in March 2021, the project was funded by Sequoia Capital India, Arrington Capital, Sino Global Capital, Hex Trust, Huobi Ventures, Kenetic, HashKey and GBV Capital.

Recall that in April Jane Street participated in the NEAR-based Bastion extraction protocol investment round.