Yoshitaka Kitao, CEO of the SBI Group, has published a tweet, in which he highlighted a major new step for the XRP Ledger — the rollout of a Permissioned DEX (decentralized exchange) on the XRPL.
Introducing Permissioned DEX on the XRP Ledger: Unlocking Institutional Access to DeFi https://t.co/SFYeEB4dHW
— 北尾吉孝 (@yoshitaka_kitao) June 26, 2025Here's how Permissioned DEX on XRPL works
This is a pivotal move for real-world financial apps running on the XRPL. According to the latest press release published by Ripple, the Permissioned DEX allows regulated financial institutions “to trade or move value on the XRPL Decentralized Exchange (DEX) without compromising on compliance, scalability, or decentralization.” This launch took place earlier this year after Ripple shared an outline of its vision for unlocking DeFi access for financial institutions on the XRP Ledger.
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A permissioned DEX offers a fixed set of rules for only approved participants to match their offers with a specific group, called a Permissioned Domain. Particularly, this type of DEX allows app creators to make permissioned order books for permissionless coins, such as XRP, stablecoins or wrapped cryptocurrencies, and they will only be granted access via allowlisted accounts.
The XRP Ledger can run multiple permissioned DEXes, and each one would be “uniquely associated with a permissioned domain, which acts as an allow-list for accessing that DEX,” the press release says. Trades on such a permissioned DEX can only work against other trades offered in the same permissioned DEX. Each of those platforms on the XRPL can have order books for an unlimited number of crypto pairs.
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Next step for XRPL
Ripple believes the launch of this permissioned DEX is the next step for the XRPL since it solves the hurdle of adding compliance to the DEX without breaching its concept of decentralization, cost efficiencies or user control. As mentioned above, the new permissioned DEX enables only authorized participants to take part in trading on this platform.
Thanks to the launch of this new platform, financial institutions can begin to use the XRPL DEX right away, enjoying every aspect of compliance it offers. This allows for a new level of institutional-grade trading activity to begin here, which will be regulated, easy to scale, charging low fees on trades.
The following use cases can be explored on the new XRPL-powered DEX: stablecoin/fiat FX swaps, contractor/payroll payouts, cross-border B2B payments and corporate treasury.
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