A lending system designed by Ripple for banks and payment companies had not yet met the voting threshold for activation, PANews reported on November 12, 2026, citing CoinDesk. The report said the proposal had gained support from three additional XRP Ledger validators since mid-October, bringing its vote count to 22—seven short of the required 29.
The system and its accompanying SingleAssetVault amendment each need 29 votes sustained for two consecutive weeks to activate. In the Wednesday figures cited by the report, LendingProtocol and its first patch each had 22 votes, while SingleAssetVault, which would create the funding pools, had 23.
Under the proposed design, depositors would place XRP or other tokens in a vault, and a loan broker would lend them for fixed terms. Borrowers would not have to provide collateral. Instead, the system would rely on off-chain underwriting and risk management. Holding or depositing a token is therefore distinct from assessing a borrower’s credit risk; the reported design places that assessment off-chain.
Original report: PANews (published November 12, 2026, at 13:24 UTC+8).