Introduction to enables 24/7/365 multi-currency fiat and digital asset settlements for clients of the network in a safe, secure & compliant environment by leveraging our permissioned blockchain with self-custody technology via our io.vault solution.

Benefits for financial institutions:

  • Increased Revenues: This program provides an opportunity for the bank to generate new revenue streams from fees associated with digital asset trading, settlements, and interest generated from cash to be held in reserve for settlement purposes.
  • Competitive Advantage: By offering a state-of-the-art instant-settlement platform, the bank can differentiate itself from its competitors and further establish a competitive advantage within the digital asset space.
  • Increased Efficiency and Reduction of Manual Workloads: The instant settlement platform will centralize all digital asset trades, which will increase the speed and efficiency of the bank's overall operations and reduce the risk of manual errors.
  • Enhanced Customer Experience: The platform will improve the customer experience and increase client's satisfaction with the bank's services. In turn leading to increased customer retention and acquisition.

1.1 Technology Background leverages our exclusive and innovative suite of technologies:

  • io.vault: A cryptographically enforced signing and self-custody technology solution that offers the network users the highest level of security and scalability for digital asset transactions;
  • io.chain: The permissioned blockchain on which the bank will issue and manage its own private digital assets for their clients.

1.2 Concepts & Glossary

Concept Breakdown A private and permissioned distributed ledger based network, can be referred as "ION"
Principal Member or PM An principal member is a network node operator and is capable of issuing and administering its own assets in a private sub-network for its own underlying clients on
An Underlying Client An underlying client is a principal members direct client that wishes to transact within the PMs sub-network
Minting Tokens The action of depositing / creating tokens within the network for an aligned underlying client
Burning Tokens The action of withdrawing / removing tokens within the network for a specific underlying client
Allowlist Smart Contract In order for any address to interact with a PMs administered assets it must be added by the PM to their allowlist smart contract which governs access to network participants to their administered assets
Vault A grouping of digital wallets for any supported asset(s), which are controlled by secret shares
Signing Threshold The number of secret shares required to enable the approval and signature of any request for a particular vault
Secret Share(s) Sensitive cryptographic data that provides a user's devise with an allocated level of signing power that is required when signing a digital asset transaction
Signing Power The number of secret shares a user controls on their linked device, as part of that particular vault signing party
Signing Party The collection of signers and their linked devices that contain the totality secret shares within a particular vault
Reshare Request Users may submit a request to amend the threshold and signing party or create a new Vault. This request must be approved, by reaching the existing vault threshold and "signed" by the resulting signing party. This is known as a reshare request
Vault Card A Vault Card displays the name of the Vault, total USD value of assets held within the vault, total BTC equivalent value of assets in the Vault, Vault Threshold, and an illustration of the individual Vault Signing Party members
Asset Card An Asset Card displays asset quantity and equivalent US$ value, as well as the wallet address of a particular digital asset within a given Vault. Displayed or hidden Asset Cards for a given Vault can be managed in the "Vault settings" tab
Deposit Address A Deposit Address is the specific public address for the digital asset on the relevant blockchain/network that is cryptographically controlled by the underlying secret shares of the given vault
Transaction Request A Transaction Request may be submitted via the dashboard by any user within an organization and is transmitted to the devices of a Vault's signing party. The request includes the network, asset, destination address, and the quantity of the asset to be sent. The request must be approved and signed by members of the Signing Party for the given Vault that have sufficient combined Signing Power to meet or exceed the Vault threshold
PM's dedicated network account

A dedicated network account for the principal member is used to two processes; 

  1. Where their underlying clients will deposit funds into when they want to deposit into the network
  2. Is the location where the PM will transfer fund back to the underlying client when withdrawing from the network
PM Dashboard

Naming convention for the dashboard of principal member

io.vault dashboard

Naming convention for the dashboard accessible by Vault users

PM Support Service

Naming convention for the support service

io.vault Support Service

Naming convention for the io.vault support service


The SLA section within this document, shows what steps and actions we advice to have an agreed timeline against but this is not a contractual obligation and mainly for guidance