Flowdesk says it is supplying tokenized stock liquidity on Canton

The venue’s own public materials conflict with that account of trading availability. Its homepage still says, “Trading is not yet available.”

TSV’s public notice says it had not commenced operations as of the notice’s date. It commits to waiting until at least the 31st calendar day following publication before starting.

The notice says its descriptions of functionality concern how the venue will operate upon commencement, rather than features merely under consideration. These are the operating terms against which to read Flowdesk’s announcement.

The contract disclosure is also tied to the publication date. The notice says, “Production Venue contracts have not yet been deployed as of the publication date of this Notice.”

TSV promises to publish production contract identifiers and required deployment information before using those contracts in venue operations. The evidence reviewed for this article contains no independently verified live contract balances.

The notice specifies which assets will sit on the other side of stock trades. At commencement, paired assets will include Circle’s $USDC and Brale’s $SBC, each as issued on Canton.

More broadly, TSV expects dollar-denominated stablecoins or other eligible non-security crypto assets available on the network. The notice names the intended pairs; it provides no verified inventory of currently funded pools or their balances.

Eligible participants and access restrictions

Eligible participant categories include retail investors, institutions, proprietary trading firms, liquidity providers and registered broker-dealers. Every participant must first be verified or credentialed.

The notice allows direct access and, where supported, access through a broker-dealer or another eligible intermediary. Retail investors are eligible under these terms, but they must meet the venue’s verification requirements before they can connect a wallet and trade.

The issuer’s transfer agent performs identity checks for individuals and verifies legal entities and beneficial owners. It screens sanctions, reviews jurisdictional eligibility and associates approved wallet addresses with approved participants.

These checks take place before authorization to trade and include other requirements imposed by law or venue policy. Belonging to an eligible participant category alone does not qualify a wallet for approval.

TSV proposes to enforce access restrictions through the contracts and the share register. On-chain credentials, allowlists and transfer restrictions limit pool interaction to Canton parties that TSV has approved after the checks.

The notice describes pool contracts that reject transactions from other parties. Separately, the transfer agent maintains the issuer’s register and administers stock transfer restrictions. Shares can move only to parties it has verified and recorded, so approval covers both pool access and permission to hold or transfer the stock.