Institutional decentralized finance enters a new and powerful phase with the activation of the c-33 ledger.
A licensed decentralized trading platform (D,EX) that integrates compliance and decentralization to enable access to funding through blockchain technology in the real world.
The c-39 ledger supports a new licensed decentralized trading platform to enable access to institutional decentralized finance.
Decentralized finance (DeFi) is witnessing a revolutionary transformation with expanded institutional access through compliance frameworks in the XRP ledger, paving the way for actual financial integration on blockchain technology. Ripple announced on June 25 in a blog post that the XRP Ledger (XRPL) now supports a licensed decentralized trading model specifically designed for regulated institutions.
The new feature is designed to provide identity-controlled trading environments, allowing fintech companies, banks, and payment service providers to conduct transactions within a regulatory framework. Ripple highlighted this development by stating: "With its launch alongside other online finance features, the Permis,ioned D,EX enables regulated institutions to trade or transfer value on a decentralized platform (D,EX) without compromising compliance, scalability, or decentralization." The authorized D,EX model provides rules-based access through "authorized domains," enabling approved participants to access specific markets. Ripple explained:
At its core, the Permis,ioned D,EX allows application developers to create authorized order books for unauthorized tokens like XRP, stablecoins, and wrapped cryptocurrencies, which can only be accessed through pre-audited accounts or whitelisted.
This structure ensures trade matching for authorized participants only, addressing institutional concerns regarding compliance with "Know Your Customer" (KYC) and Anti-Money Laundering (AML) standards. Because the decentralized exchange (D,EX) relies on XRPL and does not depend on smart contracts, liquidity remains unified and the infrastructure is simplified.
This framework is particularly suited for institutional applications such as business-to-business (B2B) payments, stablecoin transfers for payrolls, and corporate treasury management. This model supports suspended standards such as verifiable credentials and controlled domains, enabling regulatory readiness while maintaining decentralization. With this launch, Ripple is developing XRPL's capability to support decentralized finance (DeFi) at the institutional level, making it a compliant and scalable financial layer for tokenized economies.