XRPL Multi-Purpose Tokens (MPTs)
MPTs are the next generation of tokens on the XRP Ledger — more compact, more flexible, and designed for institutional use cases like real-world assets, carbon credits, and financial instruments.
What Are MPTs?
Multi-Purpose Tokens are a new token standard on the XRP Ledger that combines the best aspects of fungible and non-fungible tokens. Unlike traditional trustline-based tokens, MPTs can carry metadata, enforce compliance rules, and represent complex assets — all at the protocol level without smart contracts.
Think of them as "semi-fungible" tokens: each unit is interchangeable like a fungible token, but can also carry unique data like an NFT. This makes them ideal for representing real-world assets where each share is identical but needs to carry regulatory information.
MPTs vs Trustline Tokens
| Feature | Trustline Tokens | MPTs |
|---|---|---|
| Storage efficiency | Two ledger objects per holder | One compact object |
| Metadata | Not supported | Built-in (up to 1KB) |
| Compliance controls | Basic freeze/authorize | Rich: lock, clawback, transfer restrictions |
| Asset classification | None | RWA, security, utility categories |
| Max holders | Unlimited | Configurable by issuer |
| Transfer fee | Up to 1% | Up to 50% (for royalty models) |
| DEX integration | Full (CLOB + AMM) | Coming (XLS-82) |
Built-In Compliance
MPTs embed compliance at the protocol level. Issuers can configure:
- Transfer restrictions — require issuer approval for all transfers
- Clawback — ability to recall tokens for regulatory compliance
- Lock — freeze tokens in specific wallets
- Max holder limit — restrict the number of holders (for private placements)
- Asset class tagging — mark tokens as RWA, security, utility, etc.
Combined with XRPL Credentials (XLS-70), issuers can require KYC verification before allowing transfers — all without smart contracts.
Real-World Use Cases
Tokenized Securities
Stocks, bonds, and fund shares as MPTs with built-in transfer restrictions and compliance metadata.
Warehouse Receipts & Commodities
FortStock uses MPTs to represent warehouse receipts as programmable collateral for short-term credit.
Money Market Fund Shares
LiCuido uses MPTs to represent fund shares that serve as instant, programmable collateral for institutional lending.
DEX Integration (XLS-82)
The XLS-82 proposal will bring MPTs to the XRPL DEX, allowing them to be traded on the native order book and AMM pools just like trustline tokens. This is currently in development and will unlock liquid secondary markets for tokenized assets.
Once live, any MPT will be tradable on XRPL.to alongside existing tokens — giving institutional-grade assets the same deep liquidity that meme coins and stablecoins already enjoy.
How to Issue an MPT
Issuing an MPT requires two transactions: MPTokenIssuanceCreate (defines the token with metadata, supply, and compliance flags) and MPTokenAuthorize (holders opt in to receive the token). The process is similar to setting a trustline but with far more configuration options.
See the official XRPL tutorial for code examples.
Explore XRPL Tokens
Browse all tokens on the XRP Ledger — trustline tokens and MPTs.