Three proposed XRPL amendments, XLS-64D, XLS-65D, and XLS-66D, are aimed at bringing lending and leverage functionality directly onto the XRP Ledger. Together they represent a meaningful expansion of what the ledger can do beyond payments and simple asset transfers.
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What leverage on XRPL actually means
Decentralized finance protocols on other chains have offered lending, borrowing, and leveraged positions for years, mostly through smart contracts layered on top of a base blockchain. XRPL has historically kept its feature set narrower and more payment-focused. These proposed amendments would change that by building lending-adjacent primitives into the ledger’s core protocol rather than requiring a separate smart contract layer, a different architectural approach than most DeFi ecosystems take.
Why the amendment process matters here
None of these proposals become live features just because they’ve been written up. XRPL amendments require validator consensus to activate, which means XLS-64D, 65D, and 66D go through technical review, community discussion, and a formal voting threshold before any of this functionality reaches production. That’s a meaningful gap between a proposal generating discussion and a feature you can actually use.
Institutional relevance
Lending and leverage infrastructure matters to institutional players for a specific reason: it opens up capital efficiency options that a payments-only ledger doesn’t support. An institution holding digital assets on XRPL could, once these amendments are live, potentially use those holdings as collateral rather than needing to sell them to access liquidity. That’s the kind of feature Ripple‘s institutional partners have been asking for as the ledger matures beyond its original payments-only design.
What to track going forward
Watch the XRPL amendment voting status directly rather than relying on secondhand commentary, since that’s the definitive source for whether XLS-64D, 65D, or 66D have moved closer to activation. Also keep an eye on how tokenization and on-chain lending are treated by regulators like the SEC, since leverage products in particular tend to draw regulatory attention faster than simple payment rails do.
Educational only, not tax, legal, or investment advice. Check primary sources and speak with a qualified professional before making financial decisions.
Part of our guide: XRP Explained.
