Uniswap Labs launches license pool for regulated assets on v4

Uniswap Labs launches license pools to provide compliant transactions for regulated assets

On July 23, 2026, Uniswap Labs introduced Permitted Pools on Uniswap v4. This is an open source standard designed to add on-chain access checks to regulated assets. With this update, approved users can trade tokenized funds, securities, stocks and other restricted products directly through the automated market makers (AMM) pool.

Structure and Compliance

The license pool integrates the publisher managed whitelisting mechanism into the core of Uniswap v4. Before any trade or liquidity provider (LP) position is opened, the pool's smart contract calls a hook to check whether the wallet address appears on the issuer's whitelist. Transactions from unapproved wallets are immediately blocked, ensuring that access rights are strictly controlled in accordance with regulatory requirements.

These protocols will not affect the operation of the ordinary v4 pool, which remains unlicensed and accessible under existing guidelines. Issuers can now choose to adopt a restricted format for assets that require authentication, transfer restrictions, or investor qualification checks; otherwise, they can choose a standard pool format.

Uniswap itself is not responsible for the composition of whitelists or the management of wallet approvals. Instead, issuers retain control of the whitelist and can customize operating rules based on the regulatory needs of each asset.

Each license pool enforces identity and access requirements internally, which means compliance checks for regulated assets are handled by the protocol itself, rather than through a public-facing interface. Compliance control is achieved through v4 hooks-a flexible smart contract extension that allows issuers to customize how and when access checks are made during transactions. These pools support virtual bookkeeping, making on-chain settlements possible, while regulated assets remain limited to licensing contracts. Approved traders interact with AMM rather than traditional order books; liquidity providers deposit assets to support transactions under the supervision of issuer rules.

Partners and Technical Standards

Superstate, Securitize and Dowgo, as early partners, played a key role in shaping the license pool and its integration with existing compliance standards. Superstate, an independent company focusing on tokenized stocks and investment funds, partnered with Uniswap to pursue on-chain holdings and regulated financial products. The company claims that the new format allows AMM, lending platforms and other whitelisted DeFi apps to interact with qualified stocks.

Securitize, a platform known for tokenizing real-world assets and promoting digital securities compliance, works directly with Uniswap Labs to ensure that assets issued under the Securitize DS agreement are compatible with the license pool. The two companies are looking to expand access to compliant tokenized assets in a decentralized market.

Another early contributor, Dowgo, proposed integrating the ERC-3643 standard, which enhances on-chain authentication and transfer restrictions. The move depends on whether Dowgo obtains a DLT TSS authorization under the EU DLT pilot system, which is currently being reviewed by the French ACPR.

Dictionary: ERC-3643

ERC-3643 is a token standard used to facilitate on-chain Access Management, support identity checks, transfer restrictions, and compliance control of regulated digital assets.

Operating Scope and Market Outlook

License pools are not available in all Uniswap v4 markets. Issuers or developers must establish these pools for each eligible asset; the agreement does not enforce general identity checks or transaction restrictions at the broader network level. The standard unlicensed pool continues to operate as usual, open to developers and users, and follows existing protocol rules.

Uniswap cited forecasts that by 2030, the total market for tokenized assets could reach US$11 trillion, although the actual figure is still far lower. As of May 2026, tokenized real-world assets are approximately US$34 billion, of which tokenized stocks account for US$1.55 billion.

The following are relevant data:

Indicators| May 2026 values| 2030 forecast
Total tokenized real-world assets| $34 billion| US$11 trillion
tokenized stocks| $1.55 billion|

Not specifiedThe launch of the licensing pool reflects a continued effort to align decentralized finance with global regulatory standards, creating new avenues for compliant real-world asset trading through Uniswap's decentralized infrastructure.