Uniswap Labs launched a new structure called Permissioned Pools on Uniswap v4 on July 23, 2026. The open source standard introduces on-chain access control for regulated assets. In this way, approved users will be able to buy and sell tokenized funds, securities, shares and similar restricted products directly through automatic market maker pools.
Standard pools will remain unchanged
The new model does not affect the existing standard markets on Uniswap v4. No additional access control will be applied in these pools. It was stated that the structure that does not require permission will be preserved, but if the asset requires identity verification, transfer limit or investor eligibility rules, the issuer can choose the restricted format.
Each Permissioned Pool checks a permission list managed by the issuer before each exchange. The same mechanism also comes into play if a user wants to open a liquidity provider position. If the wallet is not approved, the transaction is stopped within the pool and does not continue.
Uniswap Labs reveals that compliance checks run directly in the pool’s smart contract, so regulatory constraints are implemented at the protocol level.
The owner of the permission list and the setter of the rules is the relevant issuer. Uniswap does not decide which wallets are considered eligible and does not manage participant approvals. Thus, while access control is added to the protocol infrastructure, the user acceptance process remains the responsibility of the entity issuing the asset.
Technical structure and usage area
The system uses Uniswap v4 hooks structure. This structure allows specific instructions to be executed at certain stages of the process. With the virtual accounting approach, exchanges occur on-chain, while regulated assets are held within a permissioned contract. Thus, approved investors can continue to trade with the AMM model instead of the classical order book.
Mini dictionary: ERC 3643 is a token standard developed for tokens that require identity verification, investor eligibility and transfer restrictions. It is especially used to control the on-chain issuance and circulation of regulated financial products.
Liquidity providers support approved transactions by depositing the necessary assets for each market. The pricing and settlement process operates according to the rules determined by the issuer. The purpose of the structure is to maintain transfer restrictions on regulated products while ensuring that only eligible participants have access to on-chain liquidity.
Partners and regulatory framework
Launch partners included Superstate, Securitize and Dowgo. Superstate, which focuses on tokenized stocks and mutual funds, worked with Uniswap during the early design process. The company develops on-chain financial products and focuses on the use of tokenized funds and corporate partnership structures.
Superstate assesses that this format can connect eligible investors with limited shares through AMMs, lending markets and permitted finance applications.
Securitize, on the other hand, collaborated directly with Uniswap Labs before the standard was made available to the general public. The two companies are working to ensure that products issued through the Securitize DS Protocol become compliant and compliant with on-chain transactions. On the Dowgo side, ERC 3643 integration was recommended for on-chain identity checks and transfer limitations.
Dowgo plans to use this model in Permissioned Pools if it receives DLT TSS authorization within the scope of the European Union’s DLT Pilot Regime. The company’s application is still being examined by the French ACPR. This structure does not create a widespread identity control system throughout Uniswap v4; it can only be deployed by the issuer or developer for a specific asset.
Size of the tokenized asset market
Uniswap pointed to predictions that the tokenized asset market could reach $11 trillion by 2030. However, the current size is well below this level. As of May 2026, the total value of tokenized real-world assets was approximately $34 billion, while approximately $1.55 billion of this was tokenized shares.
| Metric | Value |
|---|---|
| Forecast tokenized asset market to 2030 | 11 trillion dollars |
| May 2026 total tokenized real-world assets | 34 billion dollars |
| May 2026 tokenized shares | $1.55 billion |
The company also emphasized that developers can continue to create standard repositories without requiring any approval. In addition, users will be able to continue to benefit from these pools within the framework of the existing rules in the protocol.
