EVIDENT is proud to hold a Trust and Corporate Service Provider (TCSP) license in Hong Kong, an important element of our commitment to ensuring the safety of client assets. This demonstrates our dedication to adhering to the highest standards of regulatory compliance and investor protection while offering unparalleled access to alternative assets. In this blog post, we will explore what the TCSP license entails, the rigorous standards it requires, and the benefits it brings to EVIDENT users.
Understanding the TCSP License A TCSP license is granted by the Companies Registry in Hong Kong to businesses that provide trust or company services, including corporate services, trust administration, and custodial services. Obtaining a TCSP license signifies that the licensed company has met stringent regulatory requirements and has demonstrated its ability to maintain the highest standards of professionalism, integrity, and competence.
EVIDENT’s TCSP License: Meeting the Highest Standards The TCSP license comes with a set of rigorous standards that licensed companies must adhere to:
- Robust compliance systems: Licensees must establish and maintain effective systems to prevent money laundering, terrorist financing, and other financial crimes.
- Proper management and governance: Licensees must have competent and responsible management, and ensure adequate separation of duties and proper oversight of business activities.
- Financial stability: Licensees must demonstrate financial soundness and maintain adequate resources to conduct their operations.
- Fit and proper individuals: Licensees must ensure that their management and key personnel meet the fit and proper criteria, including good character, competence, and experience.
Benefits for EVIDENT Users EVIDENT users can enjoy several benefits as a result of our TCSP license:
- Enhanced asset safety: The rigorous standards required by the TCSP license ensure that EVIDENT has the proper infrastructure and procedures in place to safeguard client assets.
- Regulatory compliance: EVIDENT’s commitment to compliance with the TCSP license requirements demonstrates our dedication to operating within the legal and regulatory framework.
- Trust and confidence: EVIDENT’s TCSP license offers investors peace of mind, knowing that they are dealing with a licensed custodian that adheres to the highest standards of professionalism and security.
The Role of the TCSP License in Fund Tokenization and Digital Investment Structures
At EVIDENT, our TCSP license doesn’t merely signify regulatory adherence; it’s pivotal to our cutting-edge tokenization and digital investment services. This license is the bedrock upon which our tokenized funds and tokenized SPVs are built. Each digital unit we create is tethered to an underlying asset, and this coupling is enshrined in trust through our licensed custodial services. Only when an asset is securely under our custody, in alignment with stringent regulatory standards, is a corresponding digital unit birthed. This mechanism ensures the inviolable integrity of our digital investment structures, reinforcing the credibility of every tokenized asset. Furthermore, our licensed framework provides the foundation for automated fund administration services, ensuring every step from asset acquisition to token issuance is streamlined, secure, and compliant. In essence, the TCSP license is not just a regulatory stamp but a keystone in our commitment to revolutionizing the world of alternative assets through trusted tokenization.
Our Commitment to a Licensed Setup EVIDENT’s TCSP license is a key element of our commitment to a licensed setup, and we are actively progressing in our pursuit of securities licensing. We prioritize investor protection while providing better access to alternative assets. By obtaining the TCSP license for our separate company that provides custody services to EVIDENT users, we can ensure that our clients’ assets are managed with the utmost care and in compliance with stringent regulatory standards.
EVIDENT’s TCSP license is a testament to our dedication to providing a secure and trustworthy platform for our users. By adhering to the highest standards of regulatory compliance, we can ensure the safety of client assets and build a foundation of trust that enables us to offer unparalleled access to alternative assets. As we continue to pursue additional licensing opportunities, our commitment to investor protection and transparency remains unwavering, paving the way for a safer and more reliable investment landscape.