Ripple Developers Testing New Lending Protocol for XRP Ledger
Ripple has initiated a testing phase for its XRPL Lending Protocol, which could enable on-chain borrowing and lending of digital assets. The proposed upgrades, if approved, aim to enhance liquidity by allowing previously idle assets to be utilized, as reported by Decrypt.
Ripple announced on June 29, 2026, that developers have begun testing the XRP Ledger (XRPL) Lending Protocol, which seeks to introduce on-chain borrowing and lending capabilities for institutions. The proposal includes two technical specifications: XLS-65 and XLS-66, which aim to establish a native credit infrastructure on the XRPL.
If the upgrades receive approval from network validators, they will allow tokenized real-world assets (RWAs), such as money market funds and commodities, to serve as working capital on the XRPL. This contrasts with their previous status as static inventory across numerous accounts.
The XRPL Lending Protocol consists of two main components: the "Single Asset Vault," designed to standardize the pooling of assets on the XRPL, and the "Lending Protocol," which governs loan terms and servicing. Notably, the underwriting process for determining borrower creditworthiness will remain off-chain, enabling institutions to maintain control over their lending criteria.
Ripple commented on the importance of this separation, stating, "By preserving that distinction, XRPL can support a wider range of credit structures over time, rather than hard-coding one lending model into a single application." However, once a loan is issued, predefined rules will govern repayment schedules, interest calculations, and default conditions. This structure is designed to compartmentalize losses using a multi-tiered approach, where initial risks are borne by pool managers and underwriters, reflecting traditional financial practices.
As the trial progresses, industry watchers will be looking for feedback from the development community, the outcomes of the testing phase, and any indications of validator support for the proposed upgrades. The success of this initiative could significantly impact the liquidity and usability of the XRPL, potentially paving the way for more institutional engagement in on-chain finance.
Summary based on original reporting by André Beganski at Decrypt, originally published Jun 29, 2026. SolanaWire does not republish source content.
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