XRP Ledger may soon get its first native lending application thanks to the SOIL network’s regulated yield protocol taking into account proposed modifications XLS-65 and XLS-66.
XRP Ledger is close to launching its first native lending app
The team recently shared an update on X saying that “SOIL is poised to be the first app to use the XRPL Lending Protocol and SAV.” The project also added: “XLS-65 and 66 open up a new generation of lending and yield products natively on XRPL.” They expressed their support for activating the amendments as soon as possible.
The development coincides with the XRP community thinking of two Proposals on cross-chain core lending Infrastructure, development arrives. The XLS-66 provides a detailed scheme for fixed-term unsecured loans, with pooled liquidity.
Meanwhile, SingleAssetVault (XLS-65) aims to consolidate deposits from different participants into a common vault that can provide liquidity to lending markets. In addition, it is worth noting that XRP Ledger mainnet upgraded to version 3.2.0 It has just been launched.
How will the application work?
A demo, released by SOIL, provides a quick preview of the system’s operation when changes are in production. The video showed several individual asset vaults in XRP Ledger’s Lending DevNet.
Users put money into different pools and receive MBT tokens in return. Explaining how it works, the presenter added that “every single asset vault issues its own MBT token.” Depositors will be allowed to receive a token representing their position in the vault.
SOIL is poised to be the first app to use the XRPL and SAV lending protocol.
The XLS-65 and 66 open up a new generation of lending and yield products on XRPL, and we would like to see them operational as soon as possible.
Here’s a sneak peek. More coming soon. pic.twitter.com/E89EZrgEBK
– Soil (@soil_farm) June 23, 2026
A small number of deposits were then cleared into two other vaults in the XRP Ledger. Each buy or sell transaction will add to your MBT. This mechanism explains the growth of ownership records through increased liquidity in pools. The amount of transferred funds as well as the sequence information were also displayed in the explorer interface.
One of the expected use cases with the proposed changes was the ability to deposit assets into pooled vaults. It will then be used for lending, all while maintaining full transparency of on-chain user participation.
The group also found that testing activity is still at an early stage on XRPL. “No wallet currently supports Lending DevNet,” the presenter explains. For this reason, developers have to use their own internal testing tools temporarily. “We encrypt the seeds in the wallets and we allocate the transactions behind the scenes,” he explained.
After approval, XLS-65 and XLS-66 will offer the original version Lending capabilities to the XRP Ledger. It will provide the base layer for yield-based products, liquidity pools and credit markets directly on the network. The improvements will also enable SOIL to be the first app to use the new lending model on XRPL.
