Infrastructure for funds that want a better register
Participant Technologies is being built as a TechFin entity providing tokenization support services to fund management entities in GIFT City IFSC. We do not manage funds or distribute units. We give the FME the infrastructure to issue units of its scheme as permissioned securities, keep one register that always reconciles, and produce evidence on demand.
Fund management entities
IFSC-registered FMEs running non-retail schemes who want their units issued and serviced digitally.
Tokenization support
Contract deployment, identity infrastructure, register, servicing tooling and reporting.
The fund, entirely
The scheme, the investors, the decisions and the regulatory obligations remain the FME’s.
Six services, one lifecycle
Tokenization is often sold as an issuance event. In practice the issuance is the short part — the register has to be maintained, serviced and evidenced for the life of the scheme.
Token deployment & rule configuration
We deploy a dedicated ERC-3643 contract set for the scheme and configure it to the terms in the offering documents: the units, the supply cap, per-holder limits, permitted jurisdictions, the lock-in and the claims a holder must carry. The rules live inside the instrument, so they apply to every holder identically.
Digital identity & whitelist
Each investor the FME admits receives a digital identity carrying signed claims. Your compliance officer decides who is admitted; we provide the infrastructure that records the decision and enforces it at every subsequent transaction.
Allotment against reconciled subscriptions
Units are allotted in bulk against subscriptions your paying agent has reconciled. Every allotment is checked against the scheme cap, the holder cap and the recipient’s claims before it can execute — an ineligible allotment fails rather than being unwound later.
One record, reconciled by construction
The register of unit holders is the contract’s own record of balances. Your investor’s statement and your auditor’s extract are the same data at the same moment, so there is no second book to agree and no reconciliation exercise to schedule.
Corporate actions & controls
Distribution runs, NAV publication, notices to holders, and the controls a regulated fund needs — partial freeze, scheme-wide pause, forced transfer, and recovery of a holding to a new wallet when an investor loses access. Each is delegated to a named role and permanently recorded.
Reporting & audit trail
Position reports, transaction listings, control-action logs and distribution schedules, produced from the register rather than assembled from it. Entries cannot be edited or removed, which removes the hardest question in a dispute: whether the record changed after the fact.
See the operator view
The clearest way to understand the service is to look at the screen your team would work in: schemes under service, the investor queue, the register, corporate actions, four-eyes approvals and the audit trail.
What changes in your operations
Reconciliation stops being a task
The register is the contract’s balances. There is no registrar’s book to agree against a custodian’s file, because there is only one record.
Eligibility is enforced, not remembered
Jurisdiction limits, holder caps and lock-ins sit inside the instrument. An ineligible transfer cannot execute, so there is nothing to unwind.
Evidence is immediate
A position report as at any past date is produced, not reconstructed. Your auditor can be given read access rather than a spreadsheet.
Smaller tickets become workable
Fractional units and automated servicing make a larger investor base administratively feasible, which is usually what blocks it.
Transfers become possible to administer
Where the scheme documents permit transfers, the compliance check is automatic and the register updates as part of the transfer itself.
Investors stop losing access
Holdings are bound to a verified identity rather than a device, so a lost wallet is a recovery request, not a loss event.
What we are, and are not
This distinction is what makes the service straightforward to place in your compliance framework.
Participant provides
- ●Deployment and configuration of the token contracts for your scheme
- ●Digital identity infrastructure and the whitelist your compliance officer controls
- ●An on-chain register of unit holders, reconciled by construction
- ●Tooling to execute the allotments, distributions and controls you instruct
- ●Position reporting and a permanent audit trail for you, your auditor and the Authority
Participant does not
- ✗Manage a fund, take investment decisions, or hold an FME registration
- ✗Offer, market or distribute units to investors
- ✗Decide who is admitted — your compliance officer decides, we execute
- ✗Hold client money, provide custody, or act as paying agent
- ✗Operate an exchange, a trading venue, or any order book
Where a capability sits close to a regulated activity — facilitating peer-to-peer transfers between holders is the clearest example — it is scoped with counsel and, if required, tested in the IFSCA FinTech Regulatory Sandbox before it is offered to a client. We would rather narrow a feature than blur a perimeter.
A reviewed standard, deliberately
We did not invent a token standard. ERC-3643 is an open, widely deployed standard for permissioned securities, and this stack has already been examined once by IFSCA in GIFT City. Choosing something reviewed removes a category of technical novelty from your regulatory conversation.
Contracts are deployed per scheme and configured to its documents. A prototype deployment with a passing compliance test suite is available for technical review under NDA.