Ripple CEO Brad Garlinghouse Reveals Major XRP Ledger Plans for Institutional Lending and Yield

The proposed services would allow institutions to deploy XRP holdings through lending markets instead of relying solely on price appreciation. These products could generate investment income, although returns would depend on borrower performance and market conditions.

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Evernorth Partners With Four Firms for XRP Treasury Deployment

As reported by 36Crypto, Evernorth Holdings selected Ripple, Kraken, Coinbase, and BitGo as execution partners for its XRP treasury. The Nasdaq-listed company holds approximately 473 million XRP and plans institutional treasury deployment during the fourth quarter of 2026.

Evernorth aims to generate investment earnings and increase XRP holdings per share through active treasury management. Its initial operations will involve established counterparties before potential expansion into native lending services on XRPL.

Meanwhile, Doppler Finance reportedly attracted $150 million from 14,000 depositors across its XRP and RLUSD investment vaults. Its XRP vault accounts for approximately $125 million, with strategies including arbitrage, delta-neutral trading, and spot-perpetual basis positions.

XRPL Lending Plans Depend on Two Proposed Amendments

Two proposed amendments, XLS-65 and XLS-66, underpin the native credit infrastructure outlined in Garlinghouse’s development plans. XLS-65 would introduce single-asset vaults for assets including XRP and RLUSD, supporting liquidity management without conventional paired pools.

XLS-66 would enable fixed-term loans funded through those vaults, bringing additional lending functionality directly to the ledger. Under the proposal, institutions would assess borrowers and conduct underwriting outside the blockchain while XRPL manages loan transactions.

The framework also includes first-loss arrangements designed to allocate initial credit losses among participating parties. Network activation requires validator approval, with XRPL amendments needing 80% support for two consecutive weeks. Existing Permission Delegation and Atomic Batch features provide account authorization and transaction management tools for institutional operations.

Institutional Lending Rollout Builds on Treasury Deployment

Evernorth plans to begin deploying its XRP treasury during the fourth quarter of 2026 through its selected institutional counterparties. The company intends to pursue institutional investment strategies before exploring decentralized lending opportunities on the XRP Ledger.

Doppler, Clearpool, and Cicada have also expressed interest in native lending products following activation of the proposed upgrades. These initiatives connect Garlinghouse’s lending plans with institutional treasury management, while implementation remains dependent on the required network changes.

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