Tokenization Service: Create a Conversion Order

The Tokenization Service enables the creation of a tokenized representation of an equity, treasury security, or other assets (as applicable).

Assets can exist in one of two forms: tokenized or traditional. A conversion order transforms an asset from one form to the other—either from traditional to tokenized form or from tokenized to traditional form.

Note

Future releases will support conversions between tokens on different ledgers. Currently, however, conversions are limited to exchanges between tokenized and traditional forms.

key concepts

  • A Conversion Order can only be created with a wallet that is registered with the service.
  • During onboarding, the Tokenization Service creates both a Classic Account and a Digital Account for each participant. Digital Accounts contain Client and Internal wallets, and each wallet must be registered separately before it can be used for conversion orders.
  • For instructions on registering wallets, see Register Wallets.

To create a Conversion Order:

  1. Click Create Order in the upper right of the Conversion Orders screen.

  2. Complete the following fields on the Conversion Order form.

    1. Enter Security: Select the desired security from the dropdown or type the name of the security to filter the results.
    2. From: Select the originating wallet from the dropdown for the Conversion Order.

      Important

      • You can tokenize or detokenize securities. In other words, the From field can be a Classic account converting to a Digital account (internal or client), or vice versa, with the From field being a Digital account converting to a Classic account.
      • If the desired wallet is not available from the dropdown, that means it has not been registered with the service. Follow the instructions in the Register Wallets topic.
    3. Activity Type: Select one of the following options from the dropdown
      • With Memo Seg (code 40)
      • Without Memo Seg (code 98)
    4. To: Select the receiving wallet from the dropdown. Note: The same principles described for the From field apply here: the To field can be either a Digital account converting to a Classic account (Internal or Client), or a Classic account converting to a Digital account.
    5. Quantity: Enter the number of tokens or shares you want to convert. The quantity of tokens, or shares, associated with the transaction. Note: each token represents a share and the platform does not allow fractional tokens.
    6. Click Submit Order.

Once the Conversion Order has been submitted, it appears on the Conversion Orders screen with a status of Processing. (Note: Order completion is dependent on blockchain volume and confirmation timing.)

To view the conversion's Order Details, click the associated CUSIP.