Ripple launches XRPL lending protocol, developers can now access and test on the testnet.

Jinse Finance reported that on June 29, Ripple launched the XRPL Lending Protocol, providing on-chain credit infrastructure for tokenized assets. The core principle of the protocol is that credit assessment remains off-chain, while only the execution process is standardized on-chain. Institutions handle underwriting and compliance review themselves, and the protocol standardizes the execution of liquidity pooling, loan issuance, repayment, and default handling.
The protocol consists of two parts: the Single Asset Vault, which manages a single asset in a pooled manner on-chain; and the Lending Protocol, which distributes the vault's liquidity as loans with clear terms. These two correspond to proposals XLS-65 and XLS-66 respectively, and still require approval from validator nodes. The protocol supports a subordinated capital mechanism at the infrastructure level, where the pool manager bears the first-loss risk exposure ahead of other liquidity providers. Developers can now access and test the protocol on the testnet (devnet).
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