Jane Street makes DeFi play with planned $25 million USDC loan

Jane Street Capital, one of the world's biggest market makers, is pushing into decentralized finance (DeFi) as it plans to borrow up to $25 million in the stablecoin USDC.

According to a statement on Tuesday, the funds will be borrowed from BlockTower Capital through Clearpool, which launched in March. Clearpool is a decentralized capital markets ecosystem which provides uncollateralized liquidity from a group of lenders. 

Jane Street – known for its position in markets such as exchange-traded funds and corporate bonds – plans to scale up the position to $50 million, subject to market conditions.

This is the first time a major Wall Street institution has borrowed through a DeFi protocol, Clearpool said in the release.

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