Article (23) Safeguarding of Payment Tokens Held in Relation to the Performance of Payment Token Custody and Transfer

2/2024 Effective from 21/8/2024

1.

Payment Token Custodians and Transferors must keep Customer Payment Tokens in a separate Wallet from any Wallet that it uses to hold any other Virtual Assets.

2.

A Wallet in which Customer Payment Tokens are placed under Article (23)1 must:

a)	be designated as a Wallet held for the purpose of safeguarding or holding Customer Payment Tokens in accordance with this Regulation; and
b)	be used only for holding those Customer Payment Tokens.

3.

No person other than the Customer may have any interest in or right over the Customer Payment Tokens placed in a Wallet in accordance with Article (23)1.

4.

The Payment Token Custodian and Transferor must keep a record of any Customer Payment Tokens segregated in accordance with Article (23)1.