XRP Ledger Activates New Feature for Banks and Stablecoins

The XRP Ledger activated the PermissionDelegationV1_1 feature on October 8, allowing an account owner to grant another account the right to perform specific tasks without transferring the main keys. This was reported by the monitoring site XRPL Dashboard. Updates require more than 80% support from trusted validators for two consecutive weeks – with the current list of 35, this means at least 29 supporters. In September, the count reset after support fell below the threshold, CoinDesk reported.

The mechanism is needed for business: routine crypto transactions require signing keys throughout the day, but storing broad permissions on an internet-connected computer increases damage in case of compromise. Delegation divides authority by tasks: a stablecoin issuer can allow a compliance account to approve clients while keeping the main keys offline. The assistant signs with their keys, performs only permitted actions, and the owner can change or revoke permissions. Each assistant can receive up to 10 permissions; they limit the types of actions rather than set spending limits. Banks already separate payment and compliance duties among employees, and the upgrade makes this separation executable on the ledger itself. Official guidelines advise not to delegate PaymentBurn until a separate fix is activated: under certain conditions, the permission allows the assistant to create tokens, not just destroy them. The warning concerns tokens issued on the ledger, not new XRP.

According to a report by Evernorth, passed to CoinDesk, in the second quarter the network held an average of $3.72 billion in tokenized assets and $539 million in RLUSD – totaling about $4.26 billion. Separately, developers are examining a vote counting error: a server may exclude a validator after a key change, measuring support against 33 instead of 35. The PaymentBurn fix on Friday had 27 out of 35 votes; 29 are needed.