The questions your compliance officer will ask us
Choosing infrastructure for a regulated fund is a diligence exercise. These are the questions that decide whether a tokenization vendor is workable — answered here, not after a first meeting.
We replace nobody
An FME already has an administrator, a valuer and a banker. We change what they all work against.
With a single live register, the administrator, the auditor and the investor read the same record at the same moment.
Answered before you ask
01 Who holds the keys that can move units?
Operational authority sits with the FME. Minting, freezing, pausing, forced transfer and recovery roles are held by the FME's own staff. Participant's operators can prepare an instruction but cannot approve one; every register-changing action needs two approvals from different roles. Key material would be held in hardware-backed or MPC custody with documented ceremonies.
02 What happens to the register if Participant ceases to operate?
The contracts belong to the scheme, run on a public network and follow an open standard other providers implement. The register continues to exist whether or not Participant does. An engagement would provide source and configuration escrow, a hand-over runbook, a transition period and the right to appoint a replacement provider.
03 Has the code been audited?
The token layer is the published Tokeny T-REX implementation of ERC-3643, used unmodified. Participant's own layer carries a compliance test suite (14/14 passing). Before any client deployment it would be subject to an independent smart-contract audit and an application penetration test by an empanelled assessor, with reports available to the client.
04 Where does the data live, and who can see it?
Personal data is held by or under the control of the FME; Participant processes it only on the FME's instructions. On-chain, the register holds wallet addresses, balances and identity contract addresses — never names or documents. Terms are aligned to the Digital Personal Data Protection Act, 2023.
05 How do you fit our administrator, valuer and banker?
We displace none of them. The administrator keeps the books, the valuer values the asset, the IFSC Banking Unit moves money. What changes is that all of them work against one live register instead of circulating files to be agreed.
06 What is the perimeter of what you will do?
Tokenisation support services only. No fund management, investment decisions, distribution of units, investor admission decisions, client money, custody, exchange or order book. Features close to a regulated activity are scoped with counsel and, if required, sandbox-tested first.
07 What is your own regulatory status today?
Participant Technologies holds no registration, authorisation or licence. Tokenisation support services are permissible under the IFSCA (TechFin and Ancillary Services) Regulations, 2025; registration under that framework is intended, and a client engagement would be conditional on it.
08 What does an engagement look like operationally?
Configure from the offering documents, review with the FME and its counsel, test on a test network with the FME's team — onboarding, allotment, a distribution run and each control — then deploy. Service levels, support, incident response and business continuity are set in the engagement.