According to U.Today, Ripple's CTO David Schwartz commented on the recent proposal to launch a local lending protocol on XRPL. Schwartz, one of the software engineers who built this ledger, agreed with it and submitted it for review and feedback. Schwartz said that if this proposal passes, it will add new practicality to the XRP Ledger. The proposed lending protocol can help local decentralized exchanges (DEX) create "key pillars of more accessible, efficient and transparent financial services." RippleX released a series of tweets introducing the proposal for a local lending protocol on the XRP Ledger, aiming to improve its ability to handle DeFi. The new protocol will allow users to directly lend assets, expand financial inclusion, and improve transparency without the help of any intermediaries. The main focus of the protocol will be flexibility and reusability. It will also allow users to tokenize assets. Users put fungible tokens (XRP, wBTC, wETH, etc.) into the lending pool to earn interest. The borrower and the pool representative will reach an agreement on the terms of the loan off-chain, which will then also be recorded on the chain. This proposal will also benefit developers as it will enable them to easily build and integrate lending dapps on XRPL and provide a wide range of use cases.