XRP Ledger validators are weighing two amendments, XLS-65 and XLS-66, that would add single-asset vaults and fixed-term institutional lending directly to the network's core protocol. Both remain below the 80% validator support needed for activation, while Ripple, Clearpool and Cicada Partners already prepare an RLUSD-denominated credit fund for when the changes go live.
Two amendments still short of the activation threshold
XRP Ledger validators are considering XLS-65 and XLS-66, amendments that would let the network host single-asset vaults and fixed-term lending natively. An amendment needs support from more than 80% of trusted validators for two consecutive weeks before it can activate, and current support remains well below that bar.
Ripple's own validator voted in favor of both amendments in August. However, Ripple cannot approve the changes on its own, since every trusted validator decides independently whether to support each one.
Lending separates credit decisions from execution
XLS-65 would create Single Asset Vaults that pool one type of token, such as XRP or Ripple USD, from multiple depositors and issue shares representing each depositor's stake. A vault manager could then allocate that pooled liquidity under predetermined rules.
XLS-66 would use that liquidity to fund fixed-term loans, relying on off-chain underwriting rather than automatic overcollateralization and liquidation. Institutions would still handle identity checks, borrower assessment and legal review outside the blockchain, so depositors could still lose money if a borrower defaults or underwriting proves inadequate.
Ripple, Clearpool and Cicada test an RLUSD fund
While validators vote, Clearpool is already testing an institutional credit product on the XRP Ledger development network. The planned fund would issue RLUSD-denominated working-capital loans to fintech and payment companies, with Cicada Partners sourcing borrowers and Clearpool providing the pooling infrastructure.
Ripple will join as a limited partner alongside other investors, contributing capital on comparable terms rather than guaranteeing other participants' losses. The fund cannot use the native lending functions on mainnet until both amendments activate.
What it means for XRP holders
RLUSD is expected to serve as the fund's main credit asset, while XRP would keep its existing network role of covering transaction fees and account reserves. Because XRP Ledger transaction fees are destroyed rather than paid to validators, heavier lending activity could raise fee consumption, though the effect on total supply depends on sustained volume that has not yet materialized.
XRP traded around $1.06 at the time of writing, with no verified price move tied directly to the vote.
Source: crypto.news
Trading involves risk.
Risk Disclaimer
