XRPL Set for Upgrade to Support Token Escrows, RLUSD, and Meme Coins
The XRP Ledger (XRPL) is preparing for a significant upgrade that will expand its capabilities beyond just XRP. The upcoming update will introduce token escrow functionality for other digital assets on the network, including Ripple’s stablecoin RLUSD and various meme coins.
Currently, only XRP supports escrow features on XRPL, but this is about to change. According to Vet, a validator on XRPL’s default UNL (dUNL), the new amendment will enable users to place other assets—like RLUSD, meme tokens, and real-world assets (RWAs)—into escrow. The upgrade will also bring support for IOU and MPT assets, with Vet highlighting MPT support as a particularly valuable addition.
The timing of this development aligns with a statement from Ripple CTO David Schwartz, who recently emphasized that XRPL’s potential extends far beyond XRP itself. He pointed to stablecoins and tokenized RWAs as examples of the network’s growing functionality.
Details of the Upgrade
Vet outlined several changes coming with the update:
- Accounts will gain the ability to escrow issued tokens.
- Escrow functionality will support freeze settings, authorization requirements, and variable transfer rates.
- New ledger fields will track locked balances for IOU and MPT escrows.
- Core escrow-related transaction logic (EscrowCreate, EscrowFinish, and EscrowCancel) will be updated to handle IOU and MPT tokens correctly, accounting for trustlines, transfer rules, and locked funds.
- Invariant checks will be added to validate escrow operations for IOU and MPT assets.
- The GatewayBalances RPC will be enhanced to report on escrowed balances.
