XRP Ledger Retries Permission Delegation Upgrade for Banks

Permission Delegation upgrade — The XRP Ledger has initiated a new attempt to activate a key upgrade that would allow financial institutions to split payment and compliance duties between accounts.

The PermissionDelegationV1_1 feature entered a 14-day activation countdown on September 21 after receiving support from 29 of the network’s 35 trusted validators. If this support holds, the upgrade will go live on October 5.

The functionality is designed to let a business account delegate specific powers, such as making payments or approving customers, to another account without surrendering full control of its master keys. This separation of duties is seen as a critical feature for regulated entities like banks.

This is a revised version of an earlier upgrade proposal. The new version fixes a flaw that could have allowed attackers to drain victims’ XRP balances by exploiting unauthorized transaction fees.