what's Textile Credit?

Textile Credit is a DeFi lending protocol that tokenizes private credit into programmable on-chain structures, enabling fintechs in emerging markets to deploy lending pools rapidly without traditional intermediaries. It operates primarily on Celo, with support for EVM-compatible L2s, allowing credit providers to create modular trusts via smart contracts that enforce payment waterfalls—prioritized repayment rules for principal, interest, and profits among stakeholders like capital providers, underwriters, and borrowers. Capital providers stake stablecoins (e.g., USDC, USDT) in pools to earn yield, while idle funds integrate with DeFi protocols like AAVE for additional returns. Borrowers access shared liquidity for real-world credit like trade finance, bridging a $5.7T financing gap. Each pool issues its own ERC20 token representing ownership, fostering composability and discoverability in an open capital graph.