XRP Ledger Credit Update Receives Support from 21 Validators

In the XRP Ledger (XRPL) network, support for the XLS-66 update, designed to launch an integrated digital asset lending mechanism, has increased. As of November 6, 2026, the LendingProtocol amendment has been approved by 21 out of 35 trusted validators, or 60%. Eight more votes are needed to begin the activation process.

Previously, the amendment was supported by 19 validators. The new votes were reported by a community member and XRPL validator under the pseudonym Vet.

Meanwhile, the related update SingleAssetVault, responsible for pooling depositor funds into special vaults, has received support from 23 validators. It is six votes short of the required majority.

The third amendment, LendingProtocolV1_1, also has 21 votes. It provides additional management capabilities for credit vaults and updates the accounting of interest payments.

None of the three amendments have yet reached the activation threshold.

According to XRP Ledger rules, an update must receive support from more than 80% of trusted validators and maintain it for 14 consecutive days. Only then can the new features be activated on the main network.

If during this period support drops to 80% or below, the countdown will start over.

How Lending Will Work in XRP Ledger

The XLS-66 update provides for the possibility of issuing loans for a certain period without the mandatory provision of collateral directly on the blockchain.

Unlike common DeFi lending models, where borrowers lock cryptocurrency worth more than the loan amount, the new system will use external creditworthiness assessments.

For this, the protocol provides for three categories of participants: depositors, credit brokers, and borrowers.

Depositors will be able to place XRP and other supported assets in Single Asset Vault vaults. In return, they will receive tokenized shares reflecting participation in the respective pool.

Credit brokers will manage loan issuance, evaluate borrowers, and determine lending terms. Borrowers will be able to receive funds from the vaults and repay them on a set schedule, including interest and fees.

Creditworthiness assessment and part of the risk management will take place outside the blockchain.

To mitigate the consequences of loan defaults, XLS-66 provides an additional protection mechanism called First-Loss Capital. It allows the broker to contribute their own funds, which can be used to partially cover losses.

However, such protection is not mandatory and does not exclude the possibility of losses for depositors.

If the updates are activated, XRP Ledger will gain infrastructure for credit products based on XRP and other supported digital assets. It can be used by both individual participants and financial organizations.

As of November 6, the credit protocol has not yet been activated on the main network. The launch date remains uncertain and depends on further validator voting results.