XRP Ledger Lending Amendment Receives 22 Votes, 7 Votes Short of Activation Threshold

TechFlow reported on November 12 that, according to CoinDesk, Ripple's XRP Ledger lending system for banks and payment companies has gained more validator support. As of Wednesday, the lending amendment and its first patch each received 22 votes, up 3 votes from 19 on October 19.

The SingleAssetVault amendment, which provides a funding pool for lending, received 23 votes. Both features require at least 29 votes from the 35 validators on the default validator list and must sustain that support for 2 weeks before activation. The system is intended to allow lenders to deposit XRP or other tokens into vaults, with loan brokers issuing fixed-term loans without requiring borrowers to provide collateral.

Source: TechFlow