Issue shares where the token is the share.
Investre creates your fund's shares on-chain and holds the register that legally proves who owns them. We are authorised to do it, and answerable for it.
ILLUSTRATIVE
Start where your operations are today.
Shares are issued on-chain in all three models. The only difference is how the cash reaches us, and you can change model without reissuing anything.
You tell us, we issue
We create and cancel tokens on your instruction. Cash is handled entirely outside the chain, the way you handle it now.
Issue against a bank payment
Tokens are issued once the money lands in the bank account. Investors pay the way they always have, and the register updates itself.
Shares and cash move together
Payment arrives on-chain in stablecoins or tokenised money market fund units, and the shares are delivered in the same movement.
Six parties become three.
A share normally reaches an investor through six regulated firms. Three of those roles are ones the control agent is licensed to perform, so they collapse into one mandate.
Six firms in a line
Each one is a separate contract, a separate fee, and another set of records to reconcile.
Three, and one register
One contract for the register, and nothing in the middle left to reconcile.
Fewer firms in the chain, one version of the truth, and a shorter list of things that can go wrong.
What we are accountable for.
Your fund appoints us. The CSSF supervises us. These four duties come with the licence, and they are what give the on-chain register its legal standing.
The issuance account
Tokens are created and cancelled from one account we manage, so the number in circulation is never in question.
The chain of custody
We monitor who holds what, all the way down. Every token traces back to a named, verified holder.
Tokens in circulation
We verify that the tokens held always match the tokens issued. Nothing can exist outside the register.
One shared record
The blockchain is the register. There is no separate off-chain share register to keep in step with it.
How is this different from a transfer agent that supports blockchain?+
A transfer agent keeps the legal register off-chain, so the token only represents a share recorded elsewhere and the two have to be kept in step. With a control agent the on-chain register is the legal one, and the token is the share.
Does this replace our transfer agent?+
For a share class issued on-chain, yes. That register function is what the control agent is licensed to perform, so there are no accounts to open at a transfer agent and no chain of custody to maintain behind it.
What about our depositary and management company?+
They keep their roles. The mandate covers issuing the tokens and keeping the register, nothing else.
Which token standard do you use?+
ERC-20 where the share class carries no transfer restrictions, ERC-1400 for securities features such as partitions and forced transfers, and ERC-3643 where only verified, eligible investors may hold. Other standards where an asset or a counterparty calls for one.
How do investors pay?+
Three ways. You instruct us and cash is handled entirely off-chain, or tokens are issued on receipt of a bank payment, or payment arrives on-chain in stablecoins or tokenised money market fund units and the shares move with it.
Can we start with one share class?+
Yes, and most funds do. One share class is issued on-chain while the rest of the fund carries on as normal.
Bring one share class.
Forty minutes on your fund. You leave knowing the token standard, the settlement model and what the first three months take.