Custodian SpA has one exclusive corporate purpose: the custody of financial instruments under Law No. 21,521. Once the Comisión para el Mercado Financiero (CMF) grants authorization, each client will have its own custody account. Its instruments will sit in wallets segregated from Custodian's, with a custody register it will be able to consult.
Today Custodian SpA holds no third-party instruments. See regulatory status ↓
«To hold, in its own name on behalf of third parties, or in their name, financial instruments, money or currencies arising from the flows or the disposal of financial instruments held in custody, or delivered by them to acquire financial instruments or to secure transactions in those instruments.»
Law No. 21,521, article 3 No. 5. Unofficial translation; the Spanish text governs.
Under the law, custody is one of the technology-based financial services (art. 2 letter d). To provide it, an entity such as Custodian SpA must register in the Registry of Financial Service Providers and obtain CMF authorization for that service.
General fund managers (AGF) and private equity managers. Once the CMF grants authorization, their funds will be able to issue instruments in a programmable digital format with our technology and deliver them into custody.
The investors in those funds, who hold the instruments. Once custody is authorized, they will see their positions and movements in their custody account.
Out of scope: publicly offered securities, and money or currencies on their own, which the law excludes from the definition of financial instrument.
This is how the service will work once the CMF grants authorization.
Each client will have its own custody account, in wallets separate from Custodian's. Its instruments will not be reused or lent without its consent (CMF General Rule No. 502, section IV.E.3.1 i) 3)), or be seized for Custodian's debts (Law No. 21,521, art. 11).
Our custody policy will set out how we will safeguard the private cryptographic keys of custody wallets.
We will record every transaction, position, transfer, reconciliation and change in key custody, and reconcile the register periodically against the chains and the accounts.
Our custody policy will set out the client's means of access to its financial instruments and private cryptographic keys. The client will consult its custody register and instruct withdrawals or transfers under its agreement.
We will vote, collect flows and exercise other rights attached to instruments in custody only on the client's instruction.
Every transfer between custody accounts will be verified before it becomes final.
Custodian SpA is not registered in the CMF Registry of Financial Service Providers and is not authorized to provide services under Law No. 21,521. It is preparing its application for registration and for authorization to provide custody of financial instruments. Until authorized, it holds no third-party instruments. The platform runs in pilot with Custodian's own resources and test instruments only.
You can check this in the Registry of Financial Service Providers at www.cmfchile.cl.
To be published once authorization is obtained and kept up to date.
An initial meeting, no obligation.
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