#bstockscis @BinanceCIS Custody is one of those topics that feels boring until something goes wrong.
With direct shares, a broker and traditional market infrastructure are involved. With bStocks, the issuer, custodian and blockchain layer become part of the structure.
That means I don’t only ask, “What is the price?”
I also ask who holds the underlying asset, how the product is issued and which risks belong to each layer. $SPCXB is a useful case study for learning those questions.
With direct shares, a broker and traditional market infrastructure are involved. With bStocks, the issuer, custodian and blockchain layer become part of the structure.
That means I don’t only ask, “What is the price?”
I also ask who holds the underlying asset, how the product is issued and which risks belong to each layer. $SPCXB is a useful case study for learning those questions.