Uniswap Opens Permissioned Pools for Tokenized Funds and Equities

Uniswap Labs is opening its automated market maker infrastructure to regulated securities through a new permissioned pool standard built on Uniswap v4.The framework allows issuers of tokenized funds, equities and other regulated assets to restrict trading and liquidity access to approved wallets while keeping transactions onchain. Instead of placing compliance checks at the application layer, each pool verifies investor eligibility before a swap or liquidity position can proceed.Superstate, Securitize and European digital securities platform Dowgo are joining as launch partners. The groups helped shape the standard around tokenized funds, equities and other permissioned assets, giving issuers a way to retain control over allowlists without building separate trading infrastructure.Ken Ng, head of ecosystem at Uniswap Labs, said the framework lets issuers enforce their own requirements without building a separate trading venue. Superstate CEO Robert Leshner described the pool-level compliance layer as “the piece of plumbing tokenization has been missing.”The design relies on Uniswap v4 hooks, which can add custom logic to individual pools without changing the broader protocol. Approved investors can trade through the automated market maker, while issuers manage eligibility and administrative controls tied to the underlying asset.Superstate CEO Robert Leshner described the structure as a missing piece for tokenized securities. By moving compliance rules into the pool itself, regulated assets can access automated liquidity without issuers surrendering the controls required under securities law.Uniswap has already been moving closer to institutional tokenization. BlackRock’s BUIDL money market fund, issued by Securitize, became tradable through the protocol earlier this year, while tokenized stocks and funds continue to spread across crypto-native and brokerage platforms.Permissioned Pools give that activity a standardized market layer. Uniswap remains open at the protocol level, but issuers can now choose a restricted pool when the asset requires investor screening.Uniswap is currently trading at $3.75 U.S. per digital token.