Participants and Responsibilities
Issuer, register, servicing, bank, and execution roles are separated within a tokenized-asset program.
Why role boundaries matter
The same instrument can involve an issuer, administrator, registrar, paying agent, settlement bank, custodian, trustee, and execution venue. Those roles stay separate so readers can see who owns each step.
Responsibility matrix
| Role | Responsible for | Boundary |
|---|---|---|
| StableNexus | Workflow policy, approval logic, evidence capture, and documentation publication. | Control plane and publication layer only. |
| Issuer / obligor | Program terms, issuance authority, performance obligations, and material change notices. | Owns the legal or commercial obligation. |
| Investor access / eligibility function | Restricted-access checks, roster management, and risk-notice delivery where required. | Can be issuer-owned or partner-mounted depending on the program. |
| Registrar / recordkeeper | Holder register, transfer state, encumbrance state, and post-issuance record changes. | Appointed role; not implied as a StableNexus-owned function. |
| Paying agent / servicing function | Payment execution, notice publication, redemption instructions, and close handling. | Appointed servicing role. |
| Settlement bank / payout rail | Funding confirmation, payout completion, and relevant settlement-side evidence. | Partner bank or payout rail, not a StableNexus banking claim. |
Role boundary
The presence of a role in the workflow does not transfer that role to StableNexus. Banking, venue, registrar, paying-agent, and reserve functions remain with the party appointed to execute them.