XRP Ledger: Issued Currency and XLS-33 Multi-Purpose Tokens
Token models
Two first-class token models
Issuers pick the model in the offering wizard. Both are live on XRPL mainnet. They differ in how investors hold the token and where it can trade.
Issued Currency over trust lines
The token is an issued currency held over a trust line, and the issuer must authorise each trust line. It trades on the XRPL DEX today, including the Permissioned DEX, where trading can be limited to credentialed holders.
Each holder needs one trust line per token, which locks a small XRP reserve on the holder’s account.
Multi-Purpose Token (MPT)
The token carries its metadata on the ledger. Holders opt in and the issuer authorises each one. Issuance, holder authorisation and clawback all work on XRPL mainnet today, and every issuance is created with the ability to lock balances.
MPTs cannot trade on the XRPL DEX yet. That depends on the MPTokensV2 amendment, which is not enabled on the XRP Ledger. Until it is, an MPT has no on-ledger secondary market.
MPT capability flags are fixed when the issuance is created and cannot be changed afterwards. T-Suite creates every MPT with trading allowed, so an issuance is not shut out of the DEX if MPTokensV2 is enabled later.
Native compliance
Compliance built into the ledger
On the XRP Ledger, T-Suite does not deploy a compliance contract. It configures the ledger’s native controls for each offering.
Credentials
Libertum’s credential issuer issues a KYC credential to each verified investor’s XRPL address, and the investor’s account accepts it. A credential only counts once the holder has accepted it.
RequireAuth
Every issuer account is created with RequireAuth. Nobody can hold the token until the issuer authorises their trust line (XRPL-IC) or their MPToken (XLS-33).
Permissioned Domains
A Permissioned Domain is created when the offering is deployed. It names the accepted credential and limits secondary trading to credentialed holders.
Clawback
Clawback lets the issuer recover tokens, for example under a court order or to return tokens in a redemption. It has to be set when the issuer is created and can never be removed, so T-Suite checks it before anything is written to the ledger.
Freeze
Issuers keep the ability to freeze. T-Suite never sets the NoFreeze flag, which would give it up permanently, and MPT issuances are created with per-holder lock enabled. The XRP Ledger’s DeepFreeze amendment is enabled on mainnet.
One account per offering and investor
Each offering is issued from its own XRPL issuer account, so supply, authorisations and NAV for one offering are kept apart from every other. Each investor has one XRPL address on the platform.
Holder onboarding
The onboarding handshake
Before an investor can receive tokens, T-Suite runs a four-step handshake on the ledger. Each step reads the ledger first and submits only what is missing, so the process can be repeated safely and resumes where it stopped. The ledger, not a platform database, is the source of truth.
01
Credential issued
Libertum’s credential issuer creates a KYC credential for the investor’s XRPL address.
02
Credential accepted
The investor’s account accepts the credential.
03
Trust line opened
The investor opens a trust line to the issuer (XRPL-IC) or opts in to the MPT (XLS-33).
04
Issuer authorises
The issuer authorises that trust line or MPToken. Only then can tokens be delivered.
On the XRP Ledger, tokens are issued by a payment from the offering’s issuer account to the authorised holder. T-Suite refuses to send tokens to a holder who has not been authorised.
Stablecoin payments
Pay in RLUSD or USDC on the XRP Ledger
Investors in XRPL offerings can pay in RLUSD (Ripple USD) or USDC, both issued on the XRP Ledger. T-Suite identifies each stablecoin by its issuer account and currency code, never by its ticker. Proceeds go to the issuer’s XRPL wallet.
Two ways to pay
From the investor’s own XRPL wallet, using the destination tag T-Suite provides, or from the investor’s custodian balance on the platform.
Verified on validated ledgers
A payment counts only once it is in a validated ledger with a successful result. T-Suite reads the amount actually delivered, not the amount sent, which protects against partial payments.
Delivery versus payment
For XRPL Issued Currency offerings, tokens and stablecoins can settle against each other through the Permissioned DEX, open only to credentialed holders. MPT offerings will need the MPTokensV2 amendment for this.
Payouts to holders
Distributions to token holders can be paid in RLUSD or USDC on the XRP Ledger.
No USDT on the XRP Ledger. There is no native or Tether-issued USDT on the XRP Ledger, so T-Suite does not accept any token called USDT on XRPL.
Regulation
RLUSD custody has been approved by CNAD
Libertum, S.A. de C.V. is registered with El Salvador’s Comisión Nacional de Activos Digitales (CNAD) as a Digital Asset Service Provider, registration PSAD-0094. RLUSD custody has been approved by CNAD under that registration, so RLUSD can be held in investors’ custodian balances on T-Suite as well as paid from their own wallets.
Registration
Libertum, S.A. de C.V. is a Digital Asset Service Provider registered with CNAD in El Salvador.
Stablecoin custody
The original PSAD-0094 grant listed USDT and USDC. RLUSD custody was approved by CNAD afterwards.
Scope
The registration is Salvadoran. It confers no licence in other jurisdictions, and issuers remain responsible for the authorisations they need where they offer tokens.
At a glance
XRP Ledger snapshot
- Token models
- XRPL-IC (trust line) · XLS-33 (MPT)
- Networks
- XRPL mainnet and testnet
- Identity
- KYC Credential, accepted by the holder
- Holder gating
- RequireAuth: issuer authorises each holder
- Recovery
- Clawback, set when the issuer is created
- NAV
- XRPL Price Oracle on the offering's issuer account
- Secondary trading
- XRPL-IC: XRPL DEX · XLS-33: waits on MPTokensV2
- Payments
- RLUSD, USDC (no USDT on XRPL)
- Accounts
- One issuer per offering · one address per investor