Securities Workflow
From investor identification to post-close servicing
Every step in the lifecycle of a restricted digital security — from first contact through ongoing compliance — runs through the platform. The workflow is the product.
STAGE 01Investor Identification
›Investor submits interest through the platform or broker-dealer channel.
›Identity verification initiated — KYC for individuals, KYB for entities.
›Government ID, beneficial ownership, and address verification collected.
›Sanctions screening: OFAC SDN, PEP lists, adverse media, ongoing monitoring.
›Identity record established in the authoritative legal registry.
STAGE 02Qualification & Suitability
›Exemption routing: Reg D 506(b), Reg D 506(c), Reg S, or Reg A+ track selected.
›Accreditation verification: income, net worth, professional certification, or entity status.
›Suitability assessment: investment experience, risk tolerance, concentration limits.
›Qualified Institutional Buyer (QIB) or Qualified Purchaser (QP) status where applicable.
›Non-U.S. person verification and jurisdiction determination for Reg S investors.
›Qualification decision recorded with full audit trail and supporting documentation.
STAGE 03Subscription & Documentation
›Subscription agreement generated with investor-specific terms and allocations.
›Private Placement Memorandum (PPM) or Offering Memorandum delivered.
›Risk disclosures, anti-dilution provisions, and transfer restriction notices presented.
›Electronic signature capture with tamper-evident audit trail.
›Subscription payment received: wire, RLUSD, USDC, or approved stablecoin rail.
›Escrow or treasury ledger posting with reconciliation confirmation.
STAGE 04Allocation & Issuance
›Allocation determined based on subscription amount, offering structure, and oversubscription rules.
›Cap table updated in the authoritative legal registry.
›Wallet approval: investor wallet added to the approved trust line / allowlist.
›Token minted to approved wallet only — no open distribution.
›Issuance confirmation with transaction hash, token quantity, and restriction status.
›Form D / Form S filing updated if required by offering terms.
STAGE 05Transfer Control
›All transfers blocked by default — restriction is the starting state.
›Transfer request submitted through the platform by the holder.
›Off-chain compliance check: restriction status, lockup period, holding requirements.
›Counterparty verification: is the receiver on the approved allowlist?
›Transfer approved or denied with documented reasoning.
›On-chain execution only after off-chain approval — never the other way.
›Freeze and clawback controls available for regulatory action or corporate events.
STAGE 06Post-Close Servicing
›Ongoing investor reporting: distributions, NAV updates, corporate actions.
›Document delivery: tax forms, annual reports, updated offering materials.
›Re-verification cycles: accreditation refresh, sanctions re-screening.
›Distribution processing: profit participation, dividend, or yield distribution.
›Investor communication management: notices, disclosures, material event alerts.
›Ongoing compliance monitoring and exception handling.
Exemption qualification tracks
Reg D 506(b)
Up to 35 non-accredited investors, no general solicitation, self-certification accepted.
✓Investor questionnaire
✓Self-certification of status
✓Pre-existing relationship documentation
Reg D 506(c)
Accredited investors only, general solicitation permitted, third-party verification required.
✓Income/net worth verification
✓Professional certification check
✓Third-party accreditation letter
Reg S
Non-U.S. persons, offshore transaction, no directed selling effort into the U.S.
✓Non-U.S. person verification
✓Jurisdiction determination
✓Distribution compliance period tracking
Reg A+
SEC-qualified offering, Tier 1 ($20M) or Tier 2 ($75M), retail-eligible with investment limits.
✓SEC Form 1-A filing
✓Audited financials
✓Ongoing reporting obligations
Transfer restriction logic
Transfers are restricted by default. The system checks every transfer request against the authoritative legal registry before any on-chain movement occurs.
Restriction is the default
Tokens are non-transferable on issuance. Movement requires explicit platform approval.
Off-chain check first
Compliance verification happens before chain execution — never after.
Counterparty verification
Both sender and receiver must be approved on the registry and active allowlist.
Lockup enforcement
Holding period, distribution compliance, and restriction schedules are enforced automatically.
Freeze capability
Issuer can freeze individual positions or all positions when required by regulation or corporate event.
Clawback reserved
Regulated recovery through clawback is available when enabled before issuance and activated by authorized process.