A proposed XRP Ledger lending system designed by Ripple for banks and payment companies had gained support from three additional validators since mid-October, bringing its vote count to 22, according to ChainCatcher’s report citing CoinDesk. That was seven votes short of the 29 required for activation.
The vote threshold is not a one-time milestone. The lending system and its accompanying SingleAssetVault amendment must each maintain 29 votes for two consecutive weeks before they can activate. As of the Wednesday referenced in the report, LendingProtocol and its first patch each had 22 votes, while SingleAssetVault, which would create funding pools, had 23.
Under the proposed design, depositors would place XRP or other tokens in vaults. Loan brokers would then lend the assets for fixed terms without requiring borrowers to provide collateral. Underwriting and risk management would take place off-chain. Developers were still working on the proposal before the vote concluded: a November 4 code merge request planned a third lending amendment.
Valuation context: These vote counts measure support for proposed protocol changes, not lending activity, protocol revenue or value accruing to XRP holders. The report provides no figures for those measures.
Original report: ChainCatcher, published November 12, 2026, at 13:25:55 (UTC+8), citing CoinDesk.