Ripple Advances Lending Protocol and Single Asset Vaults on XRP Ledger

Ripple has made significant progress in its efforts to introduce lending protocol and single asset vaults on the XRP Ledger. The company voted in favor of the Single Asset Vault (XLS-65) and Lending Protocol (XLS-66) amendments, bringing them closer to enabling on-chain credit and lending infrastructure.

The proposed amendments will allow for the creation of standardized on-ledger structures for pooling a single asset type, such as XRP or RLUSD. This will provide liquidity into other protocols and enable fixed-term and uncollateralized loans funded from the vaults.

Ripple stated that the amendments make the blockchain capable of supporting institutional-grade lending and borrowing, boosting its position in the DeFi and tokenization space.

The Single Asset Vault creates a standardized on-ledger structure for pooling a single asset type, such as XRP or RLUSD. Depositors receive proportional shares, and the vault can provide liquidity into other protocols.