Ripple opens XRPL lending tests and awaits 80% validator approval
Ripple opens XRPL lending tests. Validators still need to approve XLS-65/66 for native, fixed-term credit.
Developers can now test the XRPL Lending Protocol in a sandbox, per Ripple’s June 29 update. The upgrade awaits validator approval under XRPL’s amendment rules.
This is aimed at institutions, not yield farming. Ripple positions it as a regulated credit rail on-chain, with off-chain underwriting and on-chain execution. Source: BankXRP post summarizing Ripple’s release and Ripple’s account.
- XLS-65 sets up Single Asset Vaults. LPs deposit one asset, like XRP or RLUSD, and earn yield.
- XLS-66 runs the Lending layer. It enforces term, rate, repayment, and default logic at the protocol level.
- Loans are fixed-term and uncollateralized. Underwriting stays off-chain. The protocol handles lifecycle after origination. Reference to collateralized models: Aave.
- First-loss capital sits with pool managers and underwriters, mirroring tranched credit.
Ripple calls this deliberate architecture. The goal is to map to bank and asset-manager risk, not rely on automated liquidations. Source: BankXRP post.
RLUSD is positioned as a core vault asset. CoinGecko lists RLUSD at about $1.5B market cap since late 2024, giving a liquid dollar base for lending pools.
Ripple frames the protocol as the missing piece for on-chain RWAs on XRPL, turning tokenized assets from static holdings into working capital. Network context: DefiLlama’s XRPL page.
Validator voting began after the v3.1.0 release earlier this year and remains open as of June 29. RippleX also highlighted formal verification and a security review push before any mainnet activation. Source: BankXRP post.
At announcement time, XRP traded near $1.05, about -8% week over week, after briefly testing ~$0.99 alongside Bitcoin weakness.
