Stablecoins (ART / EMT)
Reserve Custodian
The independent credit institution or qualifying CASP that holds the ART/EMT reserve assets — bankruptcy-remote from the issuer.
Definition
Reserve custodians hold the assets backing outstanding ARTs/EMTs. Must be an independent credit institution or qualifying CASP. The custody arrangement produces bankruptcy-remoteness from the issuer's insolvency estate. Concentration limits prevent reliance on a single custodian.
Regulatory citation