XRP Ledger Launches Permissioned DEX and Token Escrow in Major Upgrade

• Permissioned DEXs under the XLS-81 upgrade are now live on the XRP Ledger (XRPL), a week after token escrow was added.
• The two work together to unlock programmable settlement and flexible market structures native to the XRP Ledger.

The XRP Ledger has announced the long-awaited XLS-81 upgrade is now live, introducing permissioned decentralized exchanges (DEXs) to the network. XLS-81 lands on the network less than a week after XLS-85 went live, adding token escrow services to the ledger.

Permissioned DEX (XLS-81) is now LIVE on the XRPL!
Two amendments. Less than a week apart.
Token Escrow (XLS-85) ✅Feb 12
Permissioned DEX (XLS-81) ✅ Feb 18

Together, they unlock programmable settlement and flexible market structures—both native to the ledger, no custom… pic.twitter.com/9LxmDoysDM

— XRPL Commons (@xrpl_commons) February 18, 2026

The permissioned DEX was the third in line to be activated. As we reported, the first was credentials, which are on-ledger proofs about any account that relay some information about the user, such as identity or compliance status. Then came the permissioned domains, which received validator consensus on Feb 4 and took effect on Feb 12, as we reported. These restrict activity on specific areas of the ledger to accounts that have outlined on-chain credentials to participate. This upgrade gave developers the foundation they required to build permissioned DEXs, which are now live. XRPL Commons, an industry body made up of developers building on the XRP Ledger, says it has tested the new permissioned DEXs end-to-end on the DevNet, and that everything works as specified. The group tested the credentials, then created, modified and deleted domains, and later tested the DEX, from the varying offer types to the order books and the offer matching mechanism. “Based on our testing, these amendments behave as specified and are stable on Devnet,” it said. The New Primitives on the XRP Ledger XLS-81 achieved consensus from validators on Feb. 6, as CNF reported. It introduces a new provision to the built-in decentralized exchange on the XRP Ledger that enables DEX operators to control who can access the platform. While crypto was originally designed to be open and public infrastructure, some use cases require an increased level of privacy for the participants. For instance, in B2B payments, participants can set up systems that pay invoices conditionally and the participants trade in isolated pools. This kind of ecosystem would not function if it was open to the public. Permissioned DEX allows the operators to limit access to a few wallets with the required credentials. It’s not just P2P payments that will be served. In a gaming environment, the operators of the ecosystem can lock in-game assets behind a permissioned setup that only unlocks them to players with specified achievements. This system would also allow the gamers and their guilds to trade among themselves privately but on a public chain. XRPL Commons summarizes it up as:

Token Escrow gives you programmable locks. Permissioned DEX gives you controlled markets. Combine them to build phased distribution systems.