XRP Ledger Introduces Permissioned DEX, Boosting Institutional Access

TLDR

• The Permissioned DEX amendment on the XRP Ledger will activate in 24 hours.
• This upgrade introduces controlled environments for trading within the decentralized exchange.
• The amendment allows regulated financial institutions to participate while adhering to compliance requirements.
• XRP’s demand remains strong, with nearly $4.5 million flowing into XRP-focused products in the last 24 hours.
• The Permissioned DEX amendment builds on the previous XLS-80, enhancing the platform’s functionality for permissioned domains.

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The Permissioned DEX amendment is set to go live on the XRP Ledger within 24 hours, marking a key milestone for the platform. This upgrade will introduce controlled environments for trading within the XRP Ledger’s decentralized exchange (DEX). The development is expected to facilitate broader participation, especially from regulated financial institutions.

XRP Ledger’s Permissioned DEX Amendment Activation

The Permissioned DEX amendment, also known as XLS 81, is set to activate on the XRP Ledger tomorrow. This amendment will create controlled trading environments, allowing only authorized users to place and accept offers. By integrating permissioning directly into the DEX protocol, it is designed to offer a secure space for regulated entities to trade.

According to XRPScan, the countdown to activation stands at just 23 hours. This feature builds upon the previous XLS-80, which focuses on Permissioned Domains. As part of this upgrade, users within these domains will have the ability to trade freely but only within a pre-approved group.

XRP’s Continued Demand Despite Market Shifts

XRP remains in strong demand, even as the broader cryptocurrency market experiences fluctuations. Rayhaneh Sharif Askary, the head of product and research at Grayscale, spoke about the consistent interest in XRP at a recent community event. “Advisors are constantly asked by their clients about XRP,” said Sharif Askary, underlining its continued relevance.

In fact, XRP has become one of the most talked-about assets, trailing only behind Bitcoin in some circles. This increasing interest is reflected in the recent data compiled by SoSoValue, showing XRP funds receiving nearly $4.5 million in the last 24 hours. Despite a market drop, the demand for XRP shows no signs of slowing down.

At the time of writing, XRP had fallen by 1.78% in the last 24 hours to $1.45. However, it had gained 3.59% over the past week. This indicates that, while it may face short-term volatility, XRP continues to attract attention from investors.

The introduction of the Permissioned DEX amendment is seen as a crucial step in XRP’s journey toward broader institutional adoption. By offering a controlled environment for trading, the XRP Ledger aims to cater to the needs of regulated financial institutions.

The integration of permissioning features within the DEX protocol allows these institutions to participate without violating compliance requirements. In the long term, this move could play a pivotal role in attracting more institutional investors to the XRP ecosystem.

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