What’s Different from Your Usual Custody
| Typical Crypto Custody (EVM/UTXO) | Musubi (Canton/DAML) | |
|---|---|---|
| Identity | Wallet addresses (0x…) | Party IDs (DisplayName::fingerprint) — tied to your org, not a key pair |
| Asset model | ERC-20 balances, UTXO outputs | DAML Holding contracts — you’re the sole signatory on each holding |
| Transfers | approve + transferFrom, or sign a tx | Exercise a Transfer choice on the Holding contract |
| Authorization | Threshold multisig (2-of-3, 3-of-5) | 4-party rolling approval — named parties, not threshold |
| Visibility | Everything on-chain is public (Etherscan) | Sub-transaction privacy — you see only contracts you’re party to |
| Your role in settlement | Sign and broadcast, then wait for confirmations | Active co-signer in atomic 4-leg DvP — your signature is one of four required |
| Quote visibility | Not applicable | You see competing MM quotes and participate in best execution selection |
Two Distinct Roles
- Sender Custodian
- Receiver Custodian
What’s new for you: You’re not just holding and releasing assets — you’re an active participant in an FX workflow.
- See order proposals from your institutional clients and accept/reject them
- Review competing market maker quotes — this is unusual for a custodian, but you’re the authorization gate for best execution
- Co-sign the best quote alongside the institution (dual authorization)
- Your co-signature is one of four required for the atomic DvP settlement
The biggest shift: on EVM/UTXO chains, you sign transactions and they’re public. On Canton, you co-sign settlement contracts with sub-transaction privacy — other participants can’t see your holdings, and you can’t see theirs.
Guide Structure
Authorization Workflow
How multi-party DvP co-signing works, quote review, and how this differs from standard multisig.
Settlement & Safekeeping
Atomic DvP mechanics, Canton Holding model vs ERC-20, asset movements, and reconciliation.
Compliance
Whitelist model, audit trail, KYC cross-referencing, and regulatory reporting.
Security
Signing authority, Canton privacy vs public chain transparency, and data isolation.
Integration Guide
Architecture, onboarding, institution relationships, and monitoring.
API Reference
Endpoints, accept quote examples, SSE events, and order lifecycle.