Real-world assets: key words

Creating and recording a digital version of a traditional asset on a programmable platform, such as a blockchain. Source

An industry name for a token linked to an asset that exists outside the blockchain, such as a fund share, a loan or gold. Source

A fund that invests in liquid, short-term debt, cash and cash equivalents. Source

A fund's total assets minus its total liabilities. Divide it by the number of shares to get the NAV per share. Source

The firm that keeps the record of who owns a security, records changes of ownership and pays out dividends. Source

A firm that keeps assets safe on behalf of others. Source

A separate legal entity, set up by a sponsoring firm, that usually only holds and finances specific assets. Source

A design that keeps an SPV's assets away from the sponsor's creditors if the sponsor goes bankrupt. Source

A token that only approved, checked investors can hold or receive. Source

The list of approved wallets that a permissioned token can move to. Many documents call it a whitelist. Source

The identity checks a firm runs on you before it opens your account. Source

Handing tokens or fund shares back to the issuer in exchange for cash or the underlying asset. Source

Loans to private businesses from lenders that are not banks, such as private credit funds. Source

A fund that offers to buy back only a set share of its shares, 5% to 25%, at set times. Source