> For the complete documentation index, see [llms.txt](https://docs.tydro.com/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.tydro.com/iv.-tydro-institutional/institutional-overview/permissioned-markets.md). # Permissioned Markets Tydro supports permissioned markets and real-world asset collateral, segregated from permissionless markets. This page gives an overview for institutions on accessing markets or listing assets. Some institutions can only transact in venues that restrict participation to verified counterparties. Tydro supports KYB-gated markets, where access is limited to participants who have completed business verification. The market runs on the same engine as an open market, with participation controlled at the entry point. ### Real-world assets Tydro lists real-world assets as collateral. A manager completes business verification and acquires the asset or security through an entity or SPV, then represents it on-chain for use in a market or vault. This is how off-chain exposure, from tokenized equities to tokenized gold, reaches the protocol under a defined legal structure. See Vaults. ### Deploying a market New markets deploy at the asset, vault, and market level, so a permissioned or RWA market can be brought live to fit an institution's assets and compliance needs. For the risks specific to these assets, see [RWA and permissioned-asset risk](/iv.-tydro-institutional/institutional-overview/permissioned-markets.md). To list an asset or open a permissioned market, see [Work with us](/iv.-tydro-institutional/work-with-us.md). --- # Agent Instructions This documentation is published with GitBook. GitBook is the documentation platform designed so that both humans and AI agents can read, navigate, and reason over technical content effectively. Learn more at gitbook.com. ## Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. Perform an HTTP GET request on the current page URL with the `ask` query parameter, and the optional `goal` query parameter: ``` GET https://docs.tydro.com/iv.-tydro-institutional/institutional-overview/permissioned-markets.md?ask=&goal= ``` `ask` is the immediate question: it should be specific, self-contained, and written in natural language. `goal` is optional and describes the broader end goal you are ultimately trying to accomplish on behalf of the user. GitBook uses it to tailor the answer towards what is most useful for that goal. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.