XRPL’s development branch now lists LendingProtocolV1_2, a new amendment that is not yet supported and sits above LendingProtocolV1_1 and the original LendingProtocol entry. The associated standards work proposes a material change to how loans are created: setup and acceptance would be handled in separate transactions before a loan becomes active.
The addition points to another pre-launch revision of the XRP Ledger’s lending implementation rather than an expansion of its headline feature set. The work remains in development, and the branch listing is not evidence of deployment or activation on the ledger.
LendingProtocolV1_2 appears in XRPL’s development branch
The feature is listed in the XRPLF/rippled development branch’s feature definitions as LendingProtocolV1_2. Its placement above the earlier V1_1 and original LendingProtocol amendments makes clear that the codebase is tracking successive revisions to the lending protocol.
The “not-yet-supported” designation is central to V1_2’s near-term status. Although the amendment is being prepared as a protocol change , it has not moved into supported deployment status in the referenced branch; amendments are the mechanism used to represent XRPL protocol changes in the rippled codebase.
The naming also suggests that the work is iterative. Rather than replacing the lending effort with an unrelated proposal, V1_2 follows the original amendment and V1_1 as part of a sequence of lending-specific revisions.
Two transactions separate loan setup from acceptance
According to the XLS-65/66 standards work , LendingProtocolV1_2 introduces two-step loan creation. A proposed LoanSet transaction would establish the loan, while LoanAccept would separately accept it; the loan would become active only after that acceptance step.
That separation is the central functional refinement attached to V1_2. It changes the sequence by which a proposed loan reaches an active state, distinguishing creation of the loan terms or setup from the later act of acceptance.
An independent report by Coin Brief similarly described the amendment as work to refine the lending implementation before launch, citing two-step loan creation and related lending-transaction changes. The standards proposal, however, is the primary record for the stated transaction structure.
The split flow may be particularly relevant to how the protocol handles when an arrangement becomes a live loan, although the available materials do not set out a final launch timetable or establish that the proposal’s current form is final.
Code work targets broker domains and vault accounting
An INFTF mirror comparison records rippled changes through October 14 for LendingProtocolV1_2. The changes added and tested gated behavior for loan-broker domains, fixed-precision vault accounting, and the split LoanSet/LoanAccept transaction flow.
That record makes V1_2 an implementation effort as well as a standards-level proposal. Its feature gate ties the broker-domain behavior to the amendment, and the accounting work covers lending and vault-related calculations.
The records do not quantify the effect of the accounting changes on users or liquidity providers . Nor do they show a production rollout; the development branch still lists LendingProtocolV1_2 as not yet supported.
The amendment extends a staged lending rollout
The original LendingProtocol entered rippled 3.1.0 , which was released in January 2026. Subsequent releases recorded additional lending and vault fixes, establishing a staged path for the protocol rather than a single, static implementation.
LendingProtocolV1_2 now adds another distinct stage: a separate amendment, a standards proposal for two-step loan creation, and implementation work covering broker domains, vault accounting and transaction-flow tests. The sequence is consistent with the supplied release and development records showing that the lending feature has continued to be adjusted after its original introduction.
For XRPL participants following the feature, the immediate development to watch is whether V1_2 progresses beyond its current unsupported listing. Its present purpose in the available code and standards materials is narrowly defined: revise the loan-creation process and incorporate related implementation fixes before the lending system moves forward.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
