Digital Asset Operations: From Onboarding to Settlement

This example walks through a Knova customer "Company A". This may be a traditional financial institution looking to introduce Digital Assets capabilities in to their system. Knova can make this happen in several ways but this is a sample API based sequence how onboarding may happen in Company A, and how its users would transact digital assets.

For direct API usage example calls, refer to Getting Started.

1. User/Account and address creation and linking within Company A onboarding (Steps 1-10)
   1. Any blockchains and custody providers can be used and swapped with minimal impact to Company A. KYC and identity solutions of choice (e.g. W3C DID/VC) can be supported.
   2. Existing identity providers can be used for authentication/authorization over common standards such as OIDC/SAML with access control (e.g. RBAC)
   3. Sub-accounts, addresses, and its linked data can be created in Knova to support coupling/decoupling direct customer or omnibus accounts as required.
2. Deposits/assets being received by User + confirming balances (Steps 11-19)
   1. Digital Twins are issued, synched and updates are sent to Company A systems real time regardless of asset/blockchain/custody provider.
   2. Existing Company A flows can be incorporated, e.g. Account validation, compliance checks, data collection, alerts via email/SMS, notifications.
   3. In a direct/decoupled model, assets reside in user address but in indirect/omnibus model, assets are swept to Omnibus (e.g. USDC may not need to reside in individual end users addresses and be swept to customer omnibus for simpler maintenance/audit/security/gas, while MMFs do not get swept)
3. Off-chain Digital Twin transfers (Steps 20-23)
   1. When sender & receiver are under the same omnibus, transfers can happen on Knova sub-ledger only for fast, gas-free transfers. Existing checks and alerting/notification flows can be incorporated at any step.
4. On-chain (e.g. Stablecoins) or fiat rail transfers (Steps 24-32)
   1. Knova can execute instructions to settle on-chain or fiat-rail as required and Digital Twins are synched and updates are provided real time. Existing checks and alerting/notification flows can be incorporated at any step. Similar concepts can be applied to fiat transfers, tokenized asset purchase, etc.