Stablecoins
A stablecoin rail is a fiat safeguarding obligation.
Every stablecoin flow generates fiat positions: prefunds awaiting minting, redemption proceeds and settlement float in transit. The safeguarding obligation applies to those positions today. It is the same obligation the rest of this site is about, arriving through a new door.
What is live, and what is anticipated
Live today
The fiat legs
Safeguarding of the fiat legs of stablecoin flows is a present obligation, not a future one. Prefunds, redemption proceeds and settlement float are end-user funds, and they are safeguarded the same way any other end-user funds are: held by a licensed trustee, segregated, and reconciled at end-user level.
Anticipated
On-chain safeguarding
On-chain safeguarding is anticipated and depends on regulations still to be made, including the prescribed-unit regulations. We build for it, but we do not date it, and we never present it as a present obligation.
How the structure works
Segregated trust wallets, held in the trustee’s name
The title record: the per-user sub-ledger
On-chain wallet balance
Sum of sub-ledger entries
Fiat control accounts
Matched every business day. Breaks investigated and cleared before the next cycle.
Attestation
Evidence the bank and the regulator can read
Safeguarding for firms with a stablecoin rail
A dual-currency trust, with one reconciling sub-ledger.
Safeguarding of the fiat legs of stablecoin flows: prefunds awaiting minting, redemption proceeds and settlement float in transit. A dual-currency trust across Canadian dollars, US dollars and on-chain balances, with one reconciling sub-ledger.
Issuer-risk policy: concentration limits, at-par redemption relationships and depeg triggers.
One integration. Safeguarded, banked, reconciled.
Talk to us about integrating with the orchestration platform, or about any single service in it.