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Metaplex Introduces MPL-3643: A Standard for Permissioned RWAs and Tokenized Securities

Metaplex has introduced MPL-3643, a standard for permissioned real-world assets and tokenized securities on Solana. Per its documentation, it runs in limited-access early access on mainnet and has not been audited.

SOLANA·HUB Editorial
Source: Metaplex on X

What Happened

Metaplex introduced MPL-3643 on September 29, a new standard for permissioned real-world assets and tokenized securities on Solana. Per Metaplex, it targets issuers who tokenize securities themselves and need to enforce compliance rules onchain.

According to the documentation, MPL-3643 is live on Solana mainnet in early access with restricted availability; developers must request alpha access. The docs include an explicit notice: MPL-3643 has not been audited, and real assets should not be custodied with it without coordinating with Metaplex.

How the Standard Works

  • Building blocks: per Metaplex, MPL-3643 builds on Token-2022, on Token ACL (sRFC 37) for freezing and thawing accounts, and on the Solana Attestation Service for KYC claims. It adds four programs of its own and a KYC provider integration.
  • Frozen until checked: token accounts are frozen by default and are only thawed once the checks pass.
  • Per-transfer rules: per the docs, lockups, volume caps, blackout windows, and venue restrictions are possible, along with holder caps and jurisdiction enforcement via ISO-3166 country codes.
  • Permissioned but composable: because the standard builds on Token-2022, the assets are meant to work with other Solana applications, per Metaplex. Metaplex names Solflare, Raydium, Orca, Phantom, and Jupiter as early integrations.

The name references ERC-3643, a standard for permissioned tokens on Ethereum. How tokenized securities have been represented on Solana so far is covered in Tokenized stocks on Solana explained; background on the token standard is in Token-2022 explained.

Note: This is reporting, not investment advice. A technical standard does not replace the legal approval of a security in a given jurisdiction.

What to Watch

  • Whether and when an audit of MPL-3643 is published
  • Which issuers launch the first securities with MPL-3643
  • How wallets and DEXs display frozen accounts and rejected transfers

Sources

#metaplex #mpl-3643 #rwa #token-2022 #compliance

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