"Tokenizing" an asset means very little until you say who holds what. Here is the sequence UnyKorn's issuance software runs, and who is the principal at each step.
1. The issuer is a legal entity with an asset and counsel
UnyKorn does not create the asset or the offering. The issuer (a fund, a company, a gold program, a property owner) brings the asset, the offering documents, and its own securities counsel. Whether the instrument is a security, and where it may be offered, is a legal determination the issuer's counsel makes before any software is configured.
2. Eligibility is enforced on chain, not in a spreadsheet
The software uses the ERC-3643 permissioned-token standard: a transfer succeeds only if both wallets carry valid identity claims that match the issuer's rules (accredited, jurisdiction, lock-up). The rules live in the contract; the identity claims are issued by a verifier the issuer chooses. UnyKorn configures; the issuer approves.
3. Reserves are attested by someone who is not us
For asset-backed instruments, the software takes attestations from independent parties (an assayer, an auditor, a custodian report), aggregates them by a stated rule (for example, two of three signers, median value, monthly, stale after 45 days), and publishes the result. UnyKorn never signs an attestation about a client's reserves.
4. Settlement is delivery-versus-payment
A token moves only when payment moves, in the same transaction or under an escrow rule. No party holds the other side's asset unsecured. The rails support stablecoin settlement; fiat settlement runs through the client's bank, not through UnyKorn.
5. Custody opens in the client's name
Custody, where the program needs it, is opened by the issuer at a qualified custodian the issuer selects. UnyKorn holds a narrow, revocable, written authorization to operate the program and no authority to move value.
What we say no to
Equity in the issuer (it creates agency and joint liability that break the operator perimeter). Holding client funds. Claims of insurance, licensing, or guaranteed value for an asset that has not been issued. Marketing a program before the issuer's counsel has cleared the offering.
State of the build
The issuance rails, ERC-3643 configuration, and attestation aggregation are real and documented. Each engagement is scoped with the issuer's counsel; the first steps are a setup conversation at Y3K Markets and a limited authorization, not a token.
Questions people ask
Does UnyKorn decide whether my asset is a security?
No. Your securities counsel does, before any configuration.
Who holds the reserves?
A qualified custodian you select, in your name. UnyKorn holds no value.
Who signs the reserve attestations?
Independent parties you appoint (assayer, auditor, custodian). UnyKorn aggregates and publishes; it never signs.