May 3, 2022, 3:59 PM
Wall Street trading powerhouse Jane Street, known for its dominance in markets such as exchange-traded funds and corporate bonds, is turning to decentralized finance to borrow crypto.
The New York-based company is going to initially borrow up to $25 million in USDC, a stablecoin pegged to the U.S. dollar, with plans to scale up to $50 million. It will borrow from crypto firm BlockTower Capital and will do so through Clearpool, a DeFi marketplace where institutions can get uncollateralized liquidity from a network of lenders. Launched on the Ethereum blockchain in March, Clearpool is backed by global investors including Sequoia …
