XRPL's First Native Lending App Drops, and the Amendments Are Loan-ing Itself to History 🏦

The XRP Ledger is moving toward the launch of its first native lending application through the network's regulated yield protocol SOIL, which plans to leverage the proposed XLS-65 and XLS-66 amendments. SOIL said on X that it is "gearing up to be the first application using the XRPL Lending Protocol and SAV," adding that "XLS-65 and 66 unlock a new generation of lending and yield products natively on XRPL." The project also expressed support for activating the amendments as soon as possible.

XLS-66 sets out a blueprint for fixed-term uncollateralized loans backed by pooled liquidity, while the SingleAssetVault, or XLS-65, is designed to consolidate deposits from multiple participants into a common vault that can supply liquidity to lending markets. The development comes as the XRP community evaluates two proposals for on-chain lending core infrastructure, and it follows the recent launch of the XRP Ledger's v3.2.0 mainnet upgrade.

SOIL also released a demo video showing several Single Asset Vaults operating on the XRP Ledger's Lending DevNet, with users placing funds into different vaults as part of a preview of the system in production. The application is positioned as the first to use the XRPL Lending Protocol and SAV once the amendments are activated.