Ripple has voted in favor of two XRP Ledger amendments that would add on-chain vaults and lending infrastructure to the network. The Single Asset Vault (XLS-65) proposal now holds 40% consensus support and the Lending Protocol (XLS-66) proposal has more than 37%, with both still short of the threshold needed to activate.
Ripple voted in favor of the Single Asset Vault (XLS-65) and Lending Protocol (XLS-66) amendments on the XRP Ledger, moving the network closer to on-chain credit and institutional lending. Both amendments remain open for validator voting.
Amendments Still Short of the Activation Threshold
After the latest vote, the Single Asset Vault (XLS-65) amendment has reached 40% consensus votes. The Lending Protocol (XLS-66) amendment holds more than 37% support. Activation on the XRPL mainnet requires more than 80% of the vote, or support from 28 of 35 dUNL validators, sustained for two weeks.
Ripple said the amendments would let the ledger support institutional-grade lending and borrowing, strengthening its position in DeFi and tokenization. Ripple also announced the XRP Ledger 3.3.0 upgrade and urged validators to update. So far, 39% of validators have already moved to the new release.
What the Vault and Lending Protocol Would Do
The Single Asset Vault creates a standardized on-ledger structure for pooling a single asset type, such as XRP, RLUSD, or other tokens, from multiple depositors, who receive proportional shares while the vault supplies liquidity to other protocols. The Lending Protocol builds on that base, enabling fixed-term and uncollateralized loans funded from the vaults. Credit underwriting and compliance decisions stay off-chain with institutions, while the ledger itself manages loan issuance, interest, repayments, and defaults, and a first-loss capital protection scheme absorbs part of any default losses.
Security firm Halborn has already cleared the XRPL Lending Protocol in a re-audit, finding no critical issues and confirming the XLS-66 developers addressed every reported finding.
Institutions Line Up Behind the Infrastructure
Yield protocol SOIL has said it plans to build lending, yield generation, and tokenized fixed-income products on top of the Lending Protocol and Single Asset Vault once they activate. Ripple-backed Evernorth, meanwhile, is preparing to use the Lending Protocol to generate institutional-grade yield on its XRP holdings.
Source: CoinGape
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