The XRP Ledger’s proposed native lending system has moved closer to mainnet activation after gaining additional validator support, though both core amendments remain below the required approval threshold. As of November 10, the LendingProtocol amendment had secured 22 of 35 trusted validator votes (approximately 62.9%), while the SingleAssetVault amendment had received 23 votes (65.7%). Each proposal needs at least 29 supporting validators and must maintain more than 80% support for two consecutive weeks before activation can begin.
The proposed framework, known through amendments XLS-65 and XLS-66, would introduce pooled single-asset vaults and fixed-term lending directly on the XRP Ledger. Users could deposit XRP, RLUSD, or other supported tokens into shared vaults and receive vault shares. Loan brokers could then use those pooled funds to issue fixed-term, uncollateralized loans, with borrower creditworthiness assessed off-chain. A first-loss capital mechanism would allow brokers to absorb an initial portion of losses. A related amendment, LendingProtocolV1_1, has also received 22 votes and would introduce closed-ended vaults with subscription, investment, and redemption periods, while changing interest income recognition.
The XRPL Lending Network confirmed it is testing the technology and voted in favor of both amendments. It also announced plans for a $10,000 XRP rewards initiative for educational content about lending infrastructure. The XRP Ledger Foundation separately launched an education program with up to $40,000 in awards for creators explaining upcoming amendments and XRP Ledger technology. Ripple’s validator had already backed both proposals in August, when support stood at roughly 37% for lending and 40% for vaults.
Institutional interest is a central theme. The proposed system could allow institutions to supply XRP and RLUSD through structured lending arrangements. Commentary referenced the $2.1 trillion private-credit market as context for institutional lending scale, though actual demand would depend on borrower assessment, repayment controls, and operational confidence. For XRP, successful activation could add a new financial use case beyond payments and trading.
