Ripple has announced its entry into the global private credit market, valued at over $10 billion, through a major upgrade to XRP Ledger. This initiative, conducted in partnership with Clearpool Finance and Cicada Partners, will introduce an institutional lending feature targeting real-world businesses in the fintech and payments sectors. Borrowers will obtain loans in RLUSD, a regulated stablecoin under NYDFS oversight with custody at Bank of New York. All lending operations including pool creation, loan issuance, and repayments will technically take place on XRP Ledger, requiring XRP for network fees and mandatory wallet reserves. The final Mainnet deployment depends entirely on approval from independent XRP Ledger validators for the XLS-65 and XLS-66 amendments.
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