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Ripple is supporting an upgrade to the XRP Ledger that would enable institutional borrowers to take on‑chain loans against stablecoins and tokenized assets, while keeping underwriting, legal agreements and compliance off‑chain. The proposal, which includes two technical standards (XLS‑65 for single‑asset vaults and XLS‑66 for the lending layer), must be approved by XRPL validators before it can be deployed on the main network. Meanwhile, Robinhood has launched its own Ethereum layer‑2 network, Robinhood Chain, built on Arbitrum, to host tokenized stocks, decentralized lending products and other DeFi applications, giving the broker greater control over its crypto infrastructure and new revenue opportunities.
Ripple's XRPL lending upgrade aims to broaden the ledger's use from payments to institutional credit by allowing loans against on‑chain assets.
The XRPL proposal keeps credit underwriting and compliance off‑chain, using the blockchain only to enforce loan terms and repayments.
Both XLS‑65 and XLS‑66 standards require validation approval before they can be activated on the XRPL mainnet.
Robinhood's Robinhood Chain is an Ethereum layer‑2 built on Arbitrum that supports tokenized stocks and decentralized lending products.
Robinhood's tokenized stocks are classified as debt securities that provide economic exposure to underlying shares, not ownership rights.
The upgrade is intended to let institutions borrow against stablecoins and tokenized assets on the XRPL while keeping underwriting and compliance processes off‑chain.
Unlike many DeFi protocols that embed risk assessment in smart contracts, Ripple's proposal leaves underwriting, legal agreements and compliance off‑chain and uses the ledger only to enforce loan execution.
Robinhood Chain is an Ethereum layer‑2 network built on Arbitrum that supports tokenized real‑world assets, decentralized lending products, and other DeFi applications.
Robinhood describes the tokenized stocks as debt securities that give economic exposure to the underlying shares but do not confer legal or beneficial ownership rights.
Both XLS‑65 and XLS‑66 standards must be approved by XRPL validators before they can be deployed on the main network.
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