Your questions. Straight answers.

No. There’s no new asset class, no speculation and no investment proposition in a token. It’s a governed shared register that happens to use the only technology that gives you a signed, timestamped, tamper-evident record across organisations that don’t share an owner.

An internal system gives you an excellent private copy of the truth, which is the problem you already have. A network problem isn’t solved one balance sheet at a time.

No. Every role keeps its function, licence, mandate and client relationship. We connect them; we don’t replace them.

We hold no mandate, no licence to provide fund services and no competing service line. Our model grows by adding participants to the register, not by taking mandates, so the more firms connect, the more useful the register is to each of them.

Not in the ordinary sense. It doesn’t replace perimeter defence or access control. What it adds is tamper evidence and non-repudiation across organisations, and no centralised system can give you that.

Ethereum, using ERC-3643, an open standard for permissioned securities where transfer rules and eligibility are enforced by the token itself.

Today, on the rails it already uses. The paying agent flow is unchanged. The architecture is ready for money to settle against ownership in one transaction when on-ledger money is available, whatever the instrument.

We start in Luxembourg because the law is furthest ahead here. The shared operational record itself needs no blockchain-specific legislation and works in any jurisdiction. On-chain legal registers follow the law as it arrives across Europe.