Four patterns
Custody arrangements in this market are not standardised, and the differences are legal rather than technical. We describe each pattern by what happens to a holder if the issuing operator fails.
The transfer agent question
Where a registered transfer agent maintains the authoritative register, on-chain balances are a mirror. Where no transfer agent exists, the chain is the register and the legal enforceability of that record varies by jurisdiction.
sources
- [1]Transfer agent registration filings — Public register. Retrieved .
frequently asked
- Is bankruptcy remoteness standard?
- No. It requires a separate legal vehicle and is disclosed in a minority of programs we reviewed.
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