Key facts
- Uniswap is launching a new feature called "Permissioned Pools".
- This framework is designed for trading tokenized funds, equities, and other regulated assets.
- Issuers can enforce investor eligibility requirements directly on-chain.
- The feature allows regulated assets to trade on Uniswap while maintaining compliance controls.
- Launch partners include Securitize, Superstate, and Dowgo.
Uniswap, a prominent decentralized exchange, is expanding its offerings with the introduction of "Permissioned Pools." This new infrastructure allows for the trading of tokenized assets such as funds and equities, while enabling issuers to enforce investor eligibility directly on the blockchain. This move aims to bridge the gap between decentralized finance and traditional finance by accommodating regulatory requirements for institutional investors.
According to Ken Ng, head of ecosystem at Uniswap Labs, Permissioned Pools provide issuers with a flexible method to enforce compliance rules without needing to develop separate trading infrastructure. He stated, "The next generation of value coming onchain, and it’s trading on Uniswap." The feature is built on top of Uniswap v4.
Several firms are partnering with Uniswap to utilize this new framework. These include tokenization companies Securitize and Superstate, as well as the European digital securities platform Dowgo. These partners plan to leverage Permissioned Pools for their regulated onchain assets.
This development aligns with a broader trend in decentralized finance, where protocols are increasingly adapting to cater to institutional investors and the growing market for tokenized real-world assets (RWA). Other examples include Aave's institutional lending venue, Horizon. The potential market for tokenized securities is substantial, with Citi projecting it to reach $5.5 trillion by 2030. Uniswap has previously facilitated trading for BlackRock's tokenized money market fund, BUIDL.
Robert Leshner, CEO of Superstate, commented that compliance for tokenized securities previously resided at the application layer. Permissioned Pools, he explained, integrate these rules directly into the trading pool, allowing regulated assets to access automated market maker liquidity while issuers maintain necessary controls.