Ripple Unveils XRPL Roadmap with 3.0 Lending Protocol, Zero-Knowledge Privacy

XRP's latest price was $, in the last 24 hours. Ripple has recently unveiled a comprehensive roadmap for the XRP Ledger (XRPL), introducing several key features aimed at enhancing its utility for institutional users. The roadmap includes the development of a native lending protocol, zero-knowledge privacy features, and expanded tokenization standards. The native lending protocol, scheduled for Version 3.0, will enable pooled lending and underwritten credit to be executed directly at the ledger level through Single-Asset Vaults. These vaults will aggregate liquidity and issue transferable vault shares, automating the loan lifecycle management process, including issuance, repayment tracking, and reconciliation. This feature is designed to maintain off-chain risk assessment while leveraging established models used by institutions.

In addition to the lending protocol, the roadmap also introduces zero-knowledge proof (ZKP) integration, which represents the privacy initiative for XRPL. Confidential Multi-Purpose Tokens, scheduled for release next year, will support privacy-preserving collateral management while maintaining compliance and auditability standards required by regulated institutions. The ZKP integration will enable proving KYC compliance without revealing personal details, allowing auditors to verify activity while protecting counterparty transaction data, and supporting proof-of-reserves without disclosing sensitive wallet information. These capabilities address institutional requirements for confidential yet compliant on-chain operations.

The roadmap also introduces the Multi-Purpose Token (MPT) standard, launching in October, which enables complex financial instruments to carry essential metadata, including maturity dates, tranches, and transfer restrictions, without requiring smart contracts. MPTs allow bonds, money market funds, and structured products to be represented and traded natively on XRPL with full DEX integration planned for seamless trading and AMM liquidity pools. This feature is designed to streamline token interactions and enable a more efficient ecosystem for users.

To expand institutional adoption capabilities, the roadmap mentions three features: Credentials, Deep Freeze, and Simulate. Credentials linked to Decentralized Identifiers enable trusted issuers to attest KYC status and regulatory permissions. Deep Freeze allows token issuers to halt transfers from flagged addresses until trust lines are unfrozen, providing critical sanctions compliance tools. Simulate lets developers test transactions before network commitment, reducing enterprise risk for high-value operations. These features are designed to create gated participation based on credential verification while preserving XRPL’s decentralized exchange efficiency.

The roadmap also introduces Permissioned Domains and Permissioned DEX features, which are currently undergoing validator voting. These tools create gated participation based on credential verification while preserving XRPL’s decentralized exchange efficiency. The modular compliance stack enables institutions to define participation requirements, ensure privacy through selective credential disclosure, and leverage order-book-based trading with full AML/KYC controls. The goal of the roadmap is to position XRPL and its native assets, XRP and RLUSD, to service institutional stablecoin payments, collateralized lending, and tokenized asset trading natively at the protocol layer. Version 3.0 represents the convergence of lending, tokenization, permissioned markets, and privacy features into a comprehensive institutional DeFi platform.

In another significant development, the “Multi-Purpose Tokens” (MPT) amendment on the XRP Ledger is nearing activation. The XLS-33 amendment, which is in its final days of activation period, will take effect on October 1, 2025. This update has gained majority support and aims to simplify token management, especially for common use cases like stablecoins. MPTs will introduce a new type of fungible token that eliminates the need for complex two-way trust lines. They will also allow metadata to be stored directly on the XRP Ledger, ensuring immutability. This move will streamline token interactions and enable a more efficient ecosystem for users.

XRP Ledger validators are facing a critical deadline to update their systems, or risk losing network connectivity. The XRP Ledger Foundation is transitioning from its old Unique Node List (UNL) to a new one, and validators still relying on the outdated default UNL (dUNL) need to make adjustments to their rippled configuration by September 30. After this date, nodes using the old UNL will be unable to connect to the network, with the deprecated UNL expiring completely on January 18, 2026. Validators must act fast to ensure they can continue to access the XRPL Foundation’s trusted validators list. Without this update, validators relying on the old UNL will be disconnected, causing network instability. The deadline is rapidly approaching, and failure to comply could result in complete disconnection from the XRP Ledger, halting the node’s participation.

Additionally, validators who reference a mix of old and new lists could face further disruption. Therefore, it is vital that all XRP validators update to the new UNL to avoid unnecessary complications. The migration is crucial as validators that don’t update will experience disruptions, or their nodes may entirely lose access to the network. This update is essential to maintain connectivity, and the consequences of neglecting it could severely impact validator participation in the XRP ecosystem.

Some partners of the Ripple ecosystem have collaborated to launch a new yield-bearing product for the XRP Ledger’s (XRPL) native token. According to a blog post from blockchain developer Interop Labs, a partnership with the tokenization platform Midas gave birth to mXRP, which is described as a tokenized exposure product offering yield strategies for XRP holders. mXRP will live on the decentralized interoperability and tokenization network, Axelar, which is founded by Interop Labs. Ripple Labs partnered with Axelar early last year to boost real-world asset (RWA) tokenization on the XRPL. Midas and Interop Labs unveiled mXRP on stage at the XRP Seoul 2025 conference held on September 21.

While on the Axelar network, mXRP will be issued on the new XRPL Ethereum Virtual Machine (EVM)-compatible network through audited smart contracts. Midas will provide the structuring and infrastructure behind mXRP. When users deposit their XRP collateral into a tokenized certificate structure, they can mint mXRP. The new product can be deployed across decentralized finance (DeFi) protocols with additional opportunities. The aim is to channel dormant XRP supply into yield-bearing structures that could deliver substantial returns. It is worth mentioning that Midas and Interop Labs are the only platforms creating new use cases for XRP. The DeFi interoperability platform, Flare, has been in the game for a while. Flare has an XRP yield-bearing structure and recently unveiled the first XRP-backed stablecoin loans.

Although the latest development could unlock new use cases for XRP, not all community members have embraced it with open arms. Some insist that there is nothing wrong with other protocols creating new use cases for XRP, while others believe such moves are shifting the focus from the XRPL. The pseudonymous XRPL validator and community contributor, Vet, tweeted that such initiatives are taking liquidity away from the XRPL to partner protocols. With other chains offering community yield on their holdings, XRP continues to move away from its core ecosystem. Vet believes the default setting should be focusing on attracting liquidity to XRPL first, as the chain is the OG decentralized exchange (DEX) and tokenization platform. Additionally, XRP will benefit from increased DEX activity, as it will become a bridge currency, allowing entities to scale on the network.