SOIL Plans XRP Ledger Lending Application Using XLS-65 and XLS-66

• Lyla Velez
• June 24, 2026
• News
• 0 Comments

SOIL is developing a lending application on the XRP Ledger that would leverage the XLS-65 and XLS-66 protocol upgrades, signaling growing interest in native DeFi infrastructure on XRPL.

What SOIL Is Building on the XRP Ledger

The project announced its intentions to build lending infrastructure natively on XRPL, rather than relying on sidechains or wrapped assets. SOIL’s dedicated XRPL portal points to active development around the concept.

The announcement is notable because XRPL’s DeFi ecosystem remains relatively underdeveloped compared to Ethereum or Solana. A functional lending protocol could represent a meaningful expansion of on-chain utility for XRP holders who currently have limited options for yield or borrowing without leaving the native ledger. For related coverage, see Ripple Completes Re-Audit of XRP Lending Protocol.

This development aligns with broader efforts to strengthen XRPL’s infrastructure. Recent XRP Ledger bug fixes following a security review have highlighted the growing scrutiny and investment being directed at the network as it prepares for more complex applications. For related coverage, see Allium Raises $40M in Series B Led by Amplify Partners.

How XLS-65 and XLS-66 Enable Lending

The XLS-65 upgrade introduces a single-asset vault standard to the XRP Ledger. This creates a native framework for depositing and managing pooled assets at the protocol level, a foundational building block for any lending system that needs to hold collateral or distribute yield. For related coverage, see Strive Buys 759 BTC for $50M: What the Bitcoin Move Means.

XLS-66 complements this by adding additional on-ledger functionality that lending protocols require. Both amendments are listed among XRPL’s known amendments, meaning they follow the ledger’s formal upgrade process and require validator consensus before activation.

SOIL’s approach of building directly on these protocol-level primitives differs from DeFi applications that deploy custom smart contracts. By using native ledger features, the lending application could benefit from XRPL’s built-in transaction finality and lower complexity, though it would also be constrained by what the amendments specifically support.

It is important to note that this remains a planned implementation. The upgrades themselves must be fully activated on the mainnet, and SOIL’s application would then need to be built, audited, and deployed on top of them.

What This Signals for XRPL’s DeFi Layer

A native lending protocol would mark a step toward the kind of composable DeFi infrastructure that has driven adoption on other networks. Industry reporting has noted that on-chain credit on XRPL could open new use cases for a network historically focused on payments and tokenized assets.

The move also suggests that protocol-level upgrades like XLS-65 and XLS-66 are beginning to attract application developers, not just infrastructure contributors. If SOIL delivers a working product, it could encourage other teams to build DeFi applications using XRPL’s native amendment system, similar to how tokenized fund launches on other chains have expanded those ecosystems beyond simple token transfers.

SOIL’s lending application is still in its early planning stages, with no confirmed launch date or detailed product specifications publicly available. Readers tracking XRPL ecosystem development should watch for amendment activation timelines and further technical disclosures from the SOIL team.

Disclaimer: This article is for informational purposes only and does not constitute financial or investment advice. Cryptocurrency and digital asset markets carry significant risk. Always do your own research before making decisions.