Support for Ripple bank-lending system grows among XRP Ledger validators
Three more validators backed the proposal since mid-October, bringing the total to 22 of the 35 required to activate the protocol.
Key takeaways
- 1Validator support for the lending protocol rose from 19 to 22 since mid-October.
- 2The XRP Ledger requires consensus among its 35 validators to activate the system.
- 3Ripple's RLUSD stablecoin reached a market capitalisation of $2.57bn since its 2024 launch.
Support for a new lending protocol on the XRP Ledger has increased to 22 validators, moving the system closer to a formal launch. This represents a rise from 19 supporters in mid-October. The protocol requires a majority of the 35 active validators to reach consensus before the lending features can be activated on the main network.
Public tracking data shows the shift in support, though the identities of the specific validators that changed their stance remain private. The lending system is designed to allow banks and financial institutions to provide credit and manage loans directly on the ledger. This mechanism would integrate with Ripple’s broader push into institutional finance and tokenised assets.
Ripple is a San Francisco-based technology company that uses the XRP Ledger for cross-border payments and financial services. The company recently began exploring tokenised trade finance with BNY Mellon to settle invoice payments using its RLUSD stablecoin. RLUSD, which launched in late 2024, has reached a market capitalisation of $2.57bn and is expected to be available to retail users through Robinhood.
The growth in validator support suggests that the network is nearing the threshold needed to implement native lending. If the remaining validators approve the change, the XRP Ledger will gain the ability to host decentralised credit markets without requiring external smart contracts. Market participants will watch for the next votes required to trigger the activation period for the new protocol.
Reported and edited by the YourKhabri desk under our editorial policy. Nothing here is investment advice.