diff --git a/contracts/donation-vault/src/lib.rs b/contracts/donation-vault/src/lib.rs
index f8e7774..02987c1 100644
--- a/contracts/donation-vault/src/lib.rs
+++ b/contracts/donation-vault/src/lib.rs
@@ -8,7 +8,7 @@
 #![allow(deprecated)]
 
 use soroban_sdk::{
-    contract, contracterror, contractimpl, contracttype, symbol_short, token, Address, Env,
+    contract, contracterror, contractimpl, contracttype, symbol_short, token, Address, Env, Vec,
 };
 
 mod math;
@@ -45,6 +45,7 @@ pub enum DataKey {
     Paused,
     Treasury,
     FeeBps,
+    TokenAllowlist,
 }
 
 #[contracterror]
@@ -63,6 +64,7 @@ pub enum Error {
     /// leave its type's range. Returned instead of letting the release
     /// profile's overflow checks panic and abort the transaction.
     ArithmeticOverflow = 9,
+    TokenNotAllowed = 10,
 }
 
 /// Fee cap of 10%, enforced by `set_fee_bps` so the admin can never take
@@ -127,6 +129,14 @@ fn require_not_paused(env: &Env) -> Result<(), Error> {
     Ok(())
 }
 
+fn token_is_allowed(env: &Env, token: &Address) -> bool {
+    let allowlist: Option<Vec<Address>> = env.storage().instance().get(&DataKey::TokenAllowlist);
+    match allowlist {
+        Some(list) if !list.is_empty() => list.iter().any(|allowed| allowed == token.clone()),
+        _ => true,
+    }
+}
+
 /// Moves `amount` from a stream's `balance` into its `withdrawn` total,
 /// failing with `Error::ArithmeticOverflow` rather than panicking if
 /// either would leave i128's range.
@@ -668,6 +678,52 @@ impl DonationVault {
         env.storage().instance().get(&DataKey::FeeBps).unwrap_or(0)
     }
 
+    /// Adds a token to the optional admin-managed allowlist. Once any token
+    /// is allowlisted, only those tokens can be used to open streams.
+    pub fn allow_token(env: Env, token: Address) -> Result<(), Error> {
+        require_admin(&env)?;
+
+        let mut allowlist: Vec<Address> = env
+            .storage()
+            .instance()
+            .get(&DataKey::TokenAllowlist)
+            .unwrap_or_else(|| Vec::new(&env));
+        if !allowlist.iter().any(|allowed| allowed == token.clone()) {
+            allowlist.push_back(token);
+        }
+
+        env.storage().instance().set(&DataKey::TokenAllowlist, &allowlist);
+        extend_instance_ttl(&env);
+        Ok(())
+    }
+
+    /// Removes a token from the optional allowlist. When the final entry is
+    /// removed, the allowlist is empty and stream creation reverts to the
+    /// original unrestricted behavior.
+    pub fn disallow_token(env: Env, token: Address) -> Result<(), Error> {
+        require_admin(&env)?;
+
+        let allowlist: Option<Vec<Address>> = env.storage().instance().get(&DataKey::TokenAllowlist);
+        let Some(list) = allowlist else {
+            return Ok(());
+        };
+
+        let filtered: Vec<Address> = list
+            .iter()
+            .filter(|allowed| allowed != &&token)
+            .collect();
+
+        env.storage().instance().set(&DataKey::TokenAllowlist, &filtered);
+        extend_instance_ttl(&env);
+        Ok(())
+    }
+
+    /// Whether a token is accepted for new streams. Empty allowlists behave as
+    /// unrestricted, because there is no enforced gate at all.
+    pub fn is_token_allowed(env: Env, token: Address) -> bool {
+        token_is_allowed(&env, &token)
+    }
+
     /// Opens a new stream: pulls `deposit` of `token` from the donor into the
     /// vault, to be released to the NGO at `rate` per second on withdrawal.
     ///
@@ -706,6 +762,9 @@ impl DonationVault {
         if deposit <= 0 || rate <= 0 {
             return Err(Error::InvalidAmount);
         }
+        if !token_is_allowed(&env, &token) {
+            return Err(Error::TokenNotAllowed);
+        }
 
         let token_client = token::Client::new(&env, &token);
         token_client.transfer(&donor, env.current_contract_address(), &deposit);
diff --git a/contracts/donation-vault/src/test.rs b/contracts/donation-vault/src/test.rs
index ea537c7..387b18c 100644
--- a/contracts/donation-vault/src/test.rs
+++ b/contracts/donation-vault/src/test.rs
@@ -208,6 +208,55 @@ fn create_stream_rejects_non_positive_amounts() {
     assert_eq!(result, Err(Ok(Error::InvalidAmount)));
 }
 
+#[test]
+fn empty_allowlist_keeps_stream_creation_unrestricted() {
+    let s = setup();
+    s.token_admin.mint(&s.donor, &1_000);
+
+    assert!(s.client.is_token_allowed(&s.token.address));
+
+    let stream_id = s
+        .client
+        .create_stream(&s.donor, &s.ngo, &s.token.address, &1_000, &10);
+    assert_eq!(stream_id, 0);
+}
+
+#[test]
+fn populated_allowlist_enforces_token_gate_and_can_be_cleared() {
+    let s = setup();
+    let token_issuer_2 = Address::generate(&s.env);
+    let (other_token, other_token_admin) = create_token(&s.env, &token_issuer_2);
+    s.token_admin.mint(&s.donor, &1_000);
+    other_token_admin.mint(&s.donor, &1_000);
+
+    s.client.allow_token(&s.token.address);
+
+    assert!(s.client.is_token_allowed(&s.token.address));
+    assert!(!s.client.is_token_allowed(&other_token.address));
+
+    let result = s.client.try_create_stream(
+        &s.donor,
+        &s.ngo,
+        &other_token.address,
+        &1_000,
+        &10,
+    );
+    assert_eq!(result, Err(Ok(Error::TokenNotAllowed)));
+
+    let stream_id = s
+        .client
+        .create_stream(&s.donor, &s.ngo, &s.token.address, &1_000, &10);
+    assert_eq!(stream_id, 0);
+
+    s.client.disallow_token(&s.token.address);
+    assert!(s.client.is_token_allowed(&s.token.address));
+
+    let stream_id = s
+        .client
+        .create_stream(&s.donor, &s.ngo, &s.token.address, &1_000, &10);
+    assert_eq!(stream_id, 1);
+}
+
 #[test]
 fn propose_then_accept_admin_transfers_control() {
     let s = setup();