The XRP Ledger activated its Multi-Purpose Token (MPT) standard on October 1, turning on a native, protocol-level framework for issuing and governing fungible tokens that aims squarely at institutional tokenization—without relying on bespoke smart contracts. “The Multi-Purpose Token (MPT) standard is now live on the XRP Ledger mainnet,” wrote Ripple engineer Kenny Lei on X.

“It’s a new native token standard designed to make issuing real-world assets onchain far simpler, safer, and more aligned with how financial institutions operate.” Lei underscored the architectural departure from prevailing models: “Unlike most token standards, MPT isn’t built with custom smart contracts. It’s embedded directly into the protocol.”

XRP Ledger’s MPT Targets Ethereum’s Institutional Gap

That design ch

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