The native lending protocol on the XRP Ledger moved closer to activation after major ecosystem platform xpmarket cast a ‘YES’ vote on the XLS-65 and XLS-66 amendment package. The vote, confirmed by XRPL Foundation representative Vet, brings the total support to 7 out of 35 key validators—still short of the required 28 votes and a two-week maintenance threshold.
The upgrade introduces two core components: XLS-65 (Single Asset Vaults), allowing users to pool assets like XRP or RLUSD into a shared vault, and XLS-66 (Lending Protocol), which issues fixed-term, unsecured loans from that pool and distributes yield to depositors. Unlike traditional DeFi models, the system relies on off-chain underwriting—lenders verify borrower identity and creditworthiness before issuing funds—and embeds lending logic directly at Layer 1, without external smart contracts.
Amid the voting progress, Ripple executive J. Ayo Akinyele clarified that the upcoming v1.1 protocol is an enhancement, not a replacement for v1.0, ensuring developers can build on the current version without delaying their projects. The existing framework remains ready for immediate adoption, while v1.1 will go through a separate amendment process with refinements based on ecosystem feedback.
Institutional lending platform SOIL announced plans to integrate the XRPL Lending Protocol, positioning itself among the first adopters to offer yield opportunities with XRP, USDC, and RLUSD. SOIL also proposed the immediate activation of XLS-65 and XLS-66 to accelerate the rollout of lending infrastructure across the network.
