Uniswap launches license pool to open its automated market makers to regulated assets

Uniswap launches a "License Pool" feature to enable AMM liquidity for regulated assets.

On July 23, 2026, Uniswap Labs released a new feature of Uniswap v4-"License Pool". This feature allows issuers of tokenized funds and securities to trade only with approved addresses, marking the first time that automated market makers have opened up to regulated assets.

New version, new rules

This update brings a new method of transaction access verification. Normally, anyone with a wallet address can join Uniswap's funds pool. But the license pool adds a simple threshold: Only addresses on the issuer's approval list can conduct transactions or provide liquidity.

Approved addresses can normally use Uniswap's transaction function, otherwise the transaction or deposit operation will not be performed.

Uniswap Labs built a license pool using v4 's "hook" mechanism. This plug-in allows developers to add custom rules to the pool of funds without having to modify the Uniswap main system. The company made it clear that regulated tokens would be kept in a separate contract with rights settings, while the pool itself would be traded using v4 's new billing system.

Uniswap claims this is the first open source standard designed for institutions to trade regulated assets on automated market makers.

Ken Ng, head of the Uniswap Labs ecosystem, said the new standard allows issuers to set their own compliance rules without having to build their own trading systems from scratch. He calls this "the next generation of value on the chain" and points out that existing projects are beginning to use the hook.

Three institutions have taken the lead in adopting

Three companies have launched the new version of the standard. Among them, Tokenized stock and fund company Superstate was an early design partner that helped define how the pool would operate for this asset class.

Securitize previously worked with Uniswap Labs to enable its DS protocol tokens to be traded on-chain under compliance conditions, laying the foundation for the birth of a license pool.

European digital securities platform Dowgo has developed an ERC-3643 integration solution and plans to adopt this standard after obtaining DLT TSS authorization under the EU DLT pilot system.

Securitize said on social media earlier today: "We are proud to be working with @Uniswap on the licensing pool." The company noted that the new standard will allow regulated assets to leverage AMM liquidity while issuers still control the range of trading participants.

Robert Leshner, CEO of Superstate, said the license pool fills a gap in the space of tokenized securities. Previously, compliance rules were like a checkpoint at the entrance to the market; now, rules are built into the pool of funds, so regulated assets can be connected to AMM liquidity without losing issuer control. Leshner called it "the missing link to making tokenization truly feasible."

Why DeFi targets Wall Street money

This release is part of a broader effort to bring regulated real-world assets into the blockchain and allow institutions that need more control to adapt to a permissionless DeFi environment. Asset management companies such as BlackRock, Apollo, Franklin Templeton and VanEck have all launched tokenized funds.

Forecasts about the future of tokenized assets frequently make headlines. Uniswap believes the market size could reach US$11 trillion by 2030, while other analysts forecast it close to US$5.5 trillion.

While the industry waits for results, Uniswap is ready. In February this year, BlackRock's tokenized money market fund BUIDL (issued by Securitize) began trading on Uniswap, and BlackRock also purchased some UNI governance tokens. According to DeFiLlama data, UNI's current trading price is approximately US$3.77 and its market value is approximately US$3.15 billion.

In any case, the main benefit for issuers is the ability to gain AMM liquidity and DeFi flexibility without relinquishing control of the approval list. The big question now is: Will trading in tokenized assets follow this standard flood Uniswap? As Dowgo awaits EU approval and more issuers consider joining, this trend deserves close attention.