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XRP News: XRPL Enhances Onchain Finance with Permissioned Domains
The post XRP News: XRPL Enhances Onchain Finance with Permissioned Domains appeared on BitcoinEthereumNews.com. XRPL is advancing infrastructure with permissioned domains that enable access control, allowing institutions to set KYC and AML-compliant rules for participation. Credentials are verified without storing personal information on-chain, ensuring privacy while meeting regulatory requirements. The XRP Ledger (XRPL) is spearheading the development of on-chain financial infrastructure with the launch of Permissioned Domains (XLS-80). It’s a suggested amendment aimed at enhancing compliance, security, and institutional adoption. The move should establish regulated spaces for blockchain transactions to enable financial institutions to set regulatory-compliant structures while preserving decentralization. Introduction To XRP Ledger’s Permissioned Domains Permissioned Domains bring an access control feature to XRPL, allowing institutions, companies, and issuers to establish preconditions for user involvement in certain financial transactions. This ensures that only authenticated users with valid credentials are able to access specific areas of the network. In contrast to permissioned blockchains that run in silos, Permissioned Domains run on the current XRPL network. The system allows domain owners to apply regulatory mandates, making it possible to be KYC and AML compliant without sacrificing user privacy. Rather than keeping personal information on-chain, the ledger merely authenticates if a user has the necessary credentials. Institutions employing Permissioned Domains are able to set access criteria using a Domain object, which defines the credentials necessary for engagement. Users are required to provide verifiable credentials in order to engage within the defined space, with all participants having regulatory and security requirements met. This method provides a number of significant benefits: Regulatory Alignment: Financial institutions are able to make blockchain transactions while remaining compliant with legal and compliance regulations. Controlled Asset Transfer: Institutions have increased control over asset flow, blocking unauthorized entry. Privacy-Focused Verification: The network verifies credentials without revealing individual user information. With these capabilities natively integrated into XRPL, Permissioned Domains create a trust-oriented system in which…
The post XRP News: XRPL Enhances Onchain Finance with Permissioned Domains appeared on BitcoinEthereumNews.com.
XRPL is advancing infrastructure with permissioned domains that enable access control, allowing institutions to set KYC and AML-compliant rules for participation. Credentials are verified without storing personal information on-chain, ensuring privacy while meeting regulatory requirements. The XRP Ledger (XRPL) is spearheading the development of on-chain financial infrastructure with the launch of Permissioned Domains (XLS-80). It’s a suggested amendment aimed at enhancing compliance, security, and institutional adoption. The move should establish regulated spaces for blockchain transactions to enable financial institutions to set regulatory-compliant structures while preserving decentralization. Introduction To XRP Ledger’s Permissioned Domains Permissioned Domains bring an access control feature to XRPL, allowing institutions, companies, and issuers to establish preconditions for user involvement in certain financial transactions. This ensures that only authenticated users with valid credentials are able to access specific areas of the network. In contrast to permissioned blockchains that run in silos, Permissioned Domains run on the current XRPL network. The system allows domain owners to apply regulatory mandates, making it possible to be KYC and AML compliant without sacrificing user privacy. Rather than keeping personal information on-chain, the ledger merely authenticates if a user has the necessary credentials. Institutions employing Permissioned Domains are able to set access criteria using a Domain object, which defines the credentials necessary for engagement. Users are required to provide verifiable credentials in order to engage within the defined space, with all participants having regulatory and security requirements met. This method provides a number of significant benefits: Regulatory Alignment: Financial institutions are able to make blockchain transactions while remaining compliant with legal and compliance regulations. Controlled Asset Transfer: Institutions have increased control over asset flow, blocking unauthorized entry. Privacy-Focused Verification: The network verifies credentials without revealing individual user information. With these capabilities natively integrated into XRPL, Permissioned Domains create a trust-oriented system in which…
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