Latch

Latch is the collateral layer for XRPL - overcollateralized lending built entirely from native XRP Ledger primitives.

DeFi lending protocols hold over $40B in TVL across chains. On XRPL, that number is zero. With XLS-65 Single Asset Vaults in validator vote, XRPL is about to get native yield-bearing vault positions with on-chain LP tokens. But there's no infrastructure to borrow against them. A depositor who needs short-term liquidity has one option: withdraw everything, break the position, lose the yield.

Latch solves this in three steps:

1. Lock. LP tokens are locked in native XLS-85 Smart Escrow as collateral
2. Borrow. XLS-47 Oracle prices the collateral on-chain, RLUSD is disbursed atomically via XLS-56 Batch Transactions
3. Settle. Repayment triggers autonomous escrow release. Default triggers automatic liquidation. No button clicked, no server involved.

What makes Latch different from lending on EVM chains is what it doesn't use: no smart contracts, no Solidity, no EVM. The entire protocol is composed of six XRPL native primitives that are all live today: Escrow (XLS-85), Oracle (XLS-47), Batch Transactions (XLS-56), Credentials (XLS-70), Payments, and DIDs.

On April 10th, Ripple published XLS-100 Smart Escrow with conditional logic. This is a single primitive that validates our architecture. Latch already delivers a complete lending protocol using six primitives. When XLS-100 activates, it becomes our seventh replacing our monitoring layer with fully native on-chain settlement logic.