Settle & Secure/Custody
Custody · Vault & Keys
Institutional custody for traditional and tokenised assets. Client assets ring-fenced from the firm. Tokenised keys distributed via MPC — no single point of control.
MAS Trust Co · TCA SOC 2 Type II ISO 27001 FIPS 140-3 (HSM)
Assets Under Custody
$757.4M
Across 4 accounts
Tokenised AuC
$291.7M
MPC + HSM
Segregation
100%
Client ↔ Firm ring-fenced
Recon Status
99.4%
1 open break · 4h SLA
Asset Segregation LaneClient ≠ Firm
RING-FENCED · BANKRUPTCY-REMOTEFirm Balance Sheet
Operating capital
House inventory (none)
CLIENT · SG
Jasmine Master Fund SP
ACC-7781 · $482.3M
CLIENT · HK
Aurora Family Office
ACC-7782 · $118.9M
CLIENT · AE
Meridian Treasury SPV
ACC-7783 · $64.8M
CLIENT · SG
Kestrel Tokenised Credit
ACC-7784 · $91.4M
Sub-Custodians
JPM · HSBC · ENBD
Euroclear · DTCC · HKSCC
Custody Accounts
Ring-fenced trust structures
Holdings · Jasmine Master Fund SP
ACC-7781 · individually segregated · Horizon Trust (SG)
Asset
Class
Where it lives
Valuation
Settle / Recon
USD Cash
USD · qty 84,200,000
Cash
JPMorgan SG
vault
$84.2M
settled
recon · matched
US Treasuries 2Y
T 4.25 04/26 · qty 150,000,000
Fixed Income
Euroclear
vault
$149.1M
settled
recon · matched
MSCI World ETF
URTH · qty 320,000
Equity
DTCC
vault
$48.6M
settled
recon · matched
Tokenised T-Bill
tUSTB · qty 200,000,000
Tokenised RWA
Horizon Digital
mpc
$200.3M
settled
recon · matched
Corporate Actions
US Treasuries 2Y · Coupon
Ex 2026-10-15
MSCI World ETF · Dividend
Ex 2026-09-30
Reconciliation
All positions matched to sub-custodian.
Asset → Segregated Custody
Where the asset lives
Asset transferred in
From client bank / broker
Client identity verified
KYB · beneficial owner mapped
Booked to segregated account
Ring-fenced ledger entry
Held by sub-custodian
Trust title · firm cannot pledge
Tokenised Keys · MPC / HSM
Where the keys live — no single point of control
MPC Wallet · 2-of-3
Share A
Custodian Node
SG · TEE
Share B
Custodian Node
HK · HSM
Share C
Client Node
Client Device
1 · Split
2 · Threshold sign
3 · Broadcast
Private key never exists whole. 2 of 3 shares (custodian × 2 + client) must cooperate to sign — no single operator, region, or device can move client assets unilaterally.
Custody Adapter Layersimulated · swap in production
Qualified Custodian API adapterMPC Provider (Fireblocks / Copper / Cobo) adapterHSM (Thales / AWS CloudHSM) adapterSub-Custody (BNY / State Street / HSBC) adapterOn-chain settlement (Canton / Fnality) adapter