Ripple product head Jazzi Cooper has pointed out a potentially big use case for XRP, indicating that institutional credit as collateral for the digital asset could be a “killer use case.”
Cooper’s comment stems from the fact that institutional credit has remained largely unexploited despite increased interest in onchain finance.
Cooper brought the XRP Ledger’s lending infrastructure to the fore as a major enabler, citing XLS-65 and XLS-66 as laying the groundwork for lending functionality on XRPL.
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XLS-65, which Cooper mentioned, is the Single Asset Vault amendment, which provides a framework for combining assets from multiple depositors. This feature is intended to be used in conjunction with the on-chain Lending Protocol.
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XLS-66 – Lending Protocol enables on-chain, fixed-term, uncollateralized loans utilizing pooled funds from a Single Asset Vault. This implementation relies on off-chain underwriting and risk management to assess the creditworthiness of borrowers but offers configurable, peer-to-peer loans.
The Lending Protocol and Single Asset Vault amendments represent the most significant institutional lending deployments on XRPL to date and are currently in voting.
Lending Protocol V1_1 update nears
The XRP Ledger Lending Protocol will receive a v1.1 update in XRPL 3.4.0 next week, developers revealed.
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This upgrade improves on important aspects of Lending v1.0. Both Lending and Single Asset Vault will see regular updates in the future and will be a dynamic feature protocol that gains functionality over time, according to developers.
LendingProtocolV1_1 is a revision of the Lending Protocol amendment with improvements and fixes, including the addition of a ‘MemoData’ field to the ‘VaultDelete’ transaction.Â
This remains essential after recent news surrounding institutional lending. In August 2026, Ripple, Cicada Partners and ClearPool teamed up to bring institutional lending to the XRPL.
This week, ClearPool announced its next phase of expansion to the XRP Ledger. ClearPool highlighted the XRPL as one of the most mature networks with a lot of institutional credit still waiting to be tapped.