With 29 Yes votes Permission Delegation is
now also in 2-Week activation on the XRP Ledger! ✅
Big enabler for institutions, get ready to see them come on chain on the XRP Ledger!
What is this feature again?
Permission Delegation is compliance & operations building block 🧵:
- Asset issuers for stablecoins and RWAs need the ability to split roles (delegate) on the issuer account. E.g Compliance Team gets funds freezing role and the operations team can mint assets for customers, and ONLY that.
They can't do anything else (!) while using their own XRP accounts instead of all of them sharing the keys to the main issuer.
Large institutions need this ability.
@rootveg444 explained very well how this looks like for the RLUSD team at Ripple.
- We have also seen
@HugoPhilion explain how Wormhole needs this feature so they can get a permission delegation for the RLUSD account to bridge back from ETH to the XRP Ledger, which in turn enables Flare to offer borrowing against your funds on the XRPL.
- Other token issuers might also find it useful, you can delegate certain abilities to a new account and blackhole it after like
@msvadari explained to cap asset supply without bricking the account.
Very exciting feature!