Metaplex introduces MPL-3643 standard for tokenized securities on Solana

Metaplex, the protocol best known as the backbone of Solana’s NFT ecosystem, is making its boldest move yet into regulated finance. The organization has launched MPL-3643, a new token standard designed specifically for permissioned real-world assets and tokenized securities on Solana.

The standard provides issuers with onchain compliance controls covering investor eligibility verification, jurisdictional limits, lockup periods, and transfer restrictions.

What MPL-3643 actually does

The standard is modeled after Ethereum’s ERC-3643, which has become the go-to framework for compliant tokenized securities on that chain. MPL-3643 brings equivalent functionality to Solana, built natively on the network’s architecture.

Under the hood, it leverages three pieces of existing Solana infrastructure: the Token-2022 program, the Solana Attestation Service, and sRFC 37. Together, these components handle compliance enforcement without piling on significant per-transaction costs.

One of the more practical design choices is support for reusable investor verifications through partnerships with trusted identity services. Once an investor completes a compliance check, that verification can be used across multiple token offerings.

Stephen Hess, Metaplex’s founder, has emphasized that the goal is creating a compliance framework that doesn’t break Solana’s composability.

MPL-3643 will work with Orca, Raydium, Jupiter, Phantom, and Solflare from launch. Compliant assets can plug into existing trading venues and wallet infrastructure rather than being confined to bespoke platforms.

From NFTs to regulated securities

Metaplex launched in 2021 as Solana’s foundational layer for digital assets, primarily focused on NFTs. The protocol powered the minting, trading, and metadata standards that defined Solana’s NFT ecosystem.

MPL-3643 is currently in a limited-access alpha phase. Issuers and developers can request access through Metaplex’s website, but broad public availability hasn’t been announced yet.

Disclosure: This article was edited by Estefano Gomez. For more information on how we create and review content, see our Editorial Policy.