Ripple Backs XRP Ledger Lending Amendments

Ripple has given its backing to two XRP Ledger amendments that would introduce single-asset vaults and fixed-term institutional lending on the network's protocol level.

The amendments, known as XLS-65 and XLS-66, have gained significant traction with Ripple's validator voting in favor of both. Currently, 40% of validators support XLS-65 and over 37% back XLS-66.

To activate the amendments, they require more than 80% support from trusted validators for two consecutive weeks. The framework aims to provide a secure lending environment by allowing institutions to conduct credit checks off-chain while using the XRP Ledger for settlement and record-keeping.

Halborn completed a re-audit of the lending code, identifying five issues including one medium-risk finding related to loan interest exceeding vault asset limits. Ripple resolved this issue, along with another low-risk finding involving a missing freeze check.