XRP Ledger Could Get a New Lending Boost From Evernorth

XRP treasury firm Evernorth is eyeing an active role in the XRP Ledger ecosystem, signalling plans to put its holdings to work rather than simply hold them as reserves.

Evernorth is looking to deploy its XRP holdings across the XRP Ledger ecosystem as proposed lending functionality moves through the network's review process. Chief Business Officer Sagar Shah said the company was built as an XRP-focused digital asset treasury with the aim of putting its holdings to use. Shah made those comments speaking at the Wyoming Blockchain Symposium 2026.

XLS-66 and the Case for Native Lending

Shah is particularly focused on XLS-66, a proposal designed to bring native lending functionality to the XRP Ledger. The amendment introduces a native XRP lending framework built directly on XRPL, proposing Single-Asset Vaults that support fixed-term, fixed-rate lending while enabling predictable returns. Assets would remain fully on-ledger, eliminating the need for bridges, wrappers, or external DeFi platforms.

XLS-66 would use liquidity held in those vaults to fund fixed-term loans, and unlike many decentralised lending markets, the proposed system would not require every borrower to provide more collateral than the value of the loan. Institutions would instead conduct credit checks, compliance reviews, legal assessments, and underwriting off-chain, while the XRP Ledger would manage the agreed loan terms, including interest, repayment schedules, servicing, and default records.

Shah argued that implementing XLS-66 at the ledger level could offer greater protections than DeFi applications built through smart contracts on top of other networks. "Because it's natively built into the ledger, I think a lot of the protections that exist, smart contract exploits might exist with other chains, are almost non-existent on the XRP Ledger," Shah said.

Validator Approval Still Required

Validators are currently reviewing the code and assessing its robustness as the proposal moves forward. The amendment process requires sustained support of over 80% from trusted validators for two consecutive weeks before activation. Ripple's vote carries attention because the company remains a major contributor to XRPL development, but it cannot activate the proposals by itself.

Ripple announced in late June that developers can begin testing the XRPL Lending Protocol in a dedicated environment, advancing a dual upgrade comprising XLS-65 and XLS-66 that would introduce native, fixed-term credit infrastructure directly on the XRP Ledger. The framework is credible, but the activation path is not yet assured.

Sources:
The Block: Evernorth eyes DeFi opportunities as XRP Ledger weighs native lending
Crypto.news: XRP Ledger lending amendments gain Ripple's backing
Yahoo Finance: XRPL Lending Protocol Testing Opens as Validator Vote Continues