Institutional RWA Onboarding

Sequenced by lift. Priced by proof.

Eleven asset classes onboarded through one platform — ordered so the classes your custodian already holds and reports on move first, and the classes that require a vault operator, laboratory, utility, or county recorder move on somebody else's calendar.

11Asset Classes
5Onboarding Stages
7Custody Controls
1–2 wkFastest Class to Fee
Qualified Custody BitGo Bank & Trust, N.A. OCC-chartered · $250M custodial insurance

Process

Five stages, from intake to live feed.

Every asset — digital, treasury, staked, precious metals, real estate — passes through the same five stages. What changes between classes is not the process; it is the counterparties required to verify each step.

01

Intake

Class selection, position summary, statement or ledger evidence collected.

  • Class code (A1–A11)
  • Position value + effective date
  • Source of evidence
02

Verification

Reconcile position against the appropriate authority — custodian statement, on-chain balance, laboratory certificate, or title search.

  • Custodian reconciliation
  • Public-ledger check (A1)
  • Independent authority (A5+)
03

Structuring

SPV formation, share-class design, transfer-restriction wiring, and pool participation (where applicable).

  • SPV under Unykorn 7777
  • Reg D 506(c) offering docs
  • ERC-3643 permissions
04

Custody

Assets placed into segregated vaults at BitGo Bank & Trust, N.A. Policy configuration + m-of-n approvals wired to the deal.

  • Segregated enterprise vault
  • 2-of-3 multi-sig baseline
  • Whitelisted destinations only
05

Reporting

Live NAV feed, cryptographically receipted approvals, and partner-facing reconciliation views — not quarterly PDFs.

  • Live NAV recomputed on event
  • Signed audit trail
  • Automated covenant monitor
The single most important design choice: the process is identical for the easy classes and the hard classes. The only thing that changes is who verifies stage 02. That's why sequencing by lift is a revenue decision — the process cost is fixed, and the classes with fewer verifying counterparties close first.

Asset Map

Eleven classes, ordered by lift.

Every class the platform supports today. The order is not alphabetical and it is not by yield — it is by how many new counterparties the partner has to trust before the position can go live. Fewer counterparties, faster fee.

A1
Custodied Digital Assets
BTC, ETH, and supported spot positions held at BitGo. The wedge class — the partner can verify the holding themselves, on the public ledger, without trusting Unykorn or the custodian.
Wedge · Verify yourself
LiftCustodian statement + on-chain check
Onboard1–2 weeks
RailDirect
A2
Regulated Stablecoin Balances
USDC, USDT positions inside enterprise vaults. Issuer attestations are public; reconciliation is one statement plus one address.
Easy
LiftCustodian statement + issuer attestation
Onboard2–4 weeks
RailDirect
A3
Treasury & Cash Equivalents
T-bills, money-market positions, tokenized treasuries (BUIDL, USDY, OUSG). Custodian statement is the primary artifact.
Easy
LiftCustodian statement · monthly NAV
Onboard3–5 weeks
RailDirect · fund tokens
A4
Staked Positions
Protocol-native staking held through the qualified custodian. Reconciliation is the same statement plus the validator view.
Easy
LiftCustodian statement · validator page
Onboard3–5 weeks
RailDirect
A5
Precious Metals
LBMA / Comex-grade gold, silver, and platinum-group inventory. Gated on vault operator confirmation and periodic physical inspection.
Medium · Vault operator
LiftVault confirmation + assay + inspection
Onboard4–6 weeks
RailSPV + registry
A6
Base Metals & Commodity Inventory
Copper, nickel, and industrial inventory held in bonded warehouses. Independent warehouseman confirmation required.
Medium · Warehouse
LiftWarehouse receipt + inspection
Onboard4–7 weeks
RailSPV + registry
A7
Tokenized Funds & External RWAs
Third-party RWA tokens (Centrifuge, Ondo, Maple, Anemoy). Positions verified via issuer reporting + on-chain balance.
Easy · Cross-verifiable
LiftIssuer report + on-chain balance
Onboard3–5 weeks
RailDirect · protocol
A8
Private Credit & CRE Debt Notes
Whole-loan and pooled CRE positions with servicer tape. Runs on the LDX Capital origination stack.
Medium · Servicer feed
LiftServicer tape + covenant monitor
Onboard5–8 weeks
RailLDX pool + SPV
A9
Physical Real Estate
Direct-title CRE and hospitality assets. Title search, appraisal, environmental (Phase I / II) required.
Higher-lift · Multi-party
LiftTitle · appraisal · Phase I
Onboard6–10 weeks
RailSPV + LDX where applicable
A10
Energy Assets & SRECs
Solar, wind, storage, and EV-charging generation with IoT telemetry driving SREC minting. Utility interconnection confirmation required.
Higher-lift · Utility gated
LiftUtility confirmation + IoT feed
Onboard6–12 weeks
RailSPV + registry
A11
IP & Rights-Based Assets
Trademarks, patents, royalty streams, licensing rights. Registry search, chain-of-title, and counsel opinion required.
Highest-lift · Registry
LiftRegistry + chain-of-title + opinion
Onboard8–16 weeks
RailSPV + rights registry
A1 is the wedge. Custodied digital assets are the only class in the map where the partner verifies the position themselves, on the public ledger, without trusting Unykorn or the custodian. Every other class asks them to accept somebody's word at some point. For a first conversation with a skeptical counterparty, that's worth more than the yield.
Revenue floor while metals works. A1 through A4 are effectively free relative to the physical classes and revenue-bearing on day one — setup fee plus SaaS plus basis points on assets already sitting in accounts you own. Run them as the floor while any physical-class deal works through vault confirmation and inspection on someone else's calendar.

Custody & Keys

Seven controls. Stated plainly.

The custody-versus-self-custody insurance boundary is the single most commonly blurred claim in this industry. This view states each control's current status before a partner's counsel asks.

K1

Qualified Custodian

In force

Enterprise vaults at BitGo Bank & Trust, N.A. — OCC-chartered national trust bank. 2-of-3 multi-sig baseline. Signing keys segregated across cold, warm, and HSM tiers.

K2

Policy Controls

Not configured · defaults only

Spend rules, address whitelists, and velocity limits are on default settings pending the lockdown pass. Configuration includes destination whitelisting, per-approver velocity caps, and video-ID thresholds for transfers above $250K.

K3

Approval Hierarchy

Not configured

m-of-n approver mapping per deal, spend-approver role assignment, and mandatory video-ID verification thresholds pending lockdown-pass configuration.

K4

Access Review

In review · scoping down

Least-privilege review underway. Parent-level access is being scoped down to per-deal enterprise-child profiles. Every SPV lands in an isolated child profile under Unykorn 7777.

K5

Recovery Rehearsal

In force · rehearsal scheduled

Documented key-recovery procedures on file. Full recovery rehearsal on the calendar to firm this control from paper to drilled. Includes signer redundancy verification and cold-store retrieval time-to-live.

K6

Insurance Boundary

The line, stated

Qualified custody is covered up to $250M by BitGo's custodial insurance policy. Self-custody and third-party vault arrangements are not covered by that policy. Third-party physical inventory (A5, A6) carries operator-provided coverage which is separate and disclosed per deal.

K7

Audit Trail

In force

Every approval, draw, and distribution is cryptographically receipted to an append-only ledger. Signed logs are exportable per deal and per counterparty. Reconciles line-by-line against the custodian's own audit output.

What a partner reads first. The controls a partner's counsel opens first are K2, K3, K4, and K6. Three of those are labeled pending or in-review today by design — the lockdown pass flips K2 and K3 to in force, K4 completes its scope-down, and K5 firms up on rehearsal completion. The document is designed to age forward as those complete, not to be rewritten.

Start with A1. Add the physical classes as they clear.

The intake conversation is one call. Bring a custodian statement, a position summary, and — if you have one — an on-chain address for the A1 wedge. Sequencing is set inside 30 minutes.

Schedule intake  →