01
Verified accounts
Investor and issuer prove control of their Ethereum L2 and Radix wallets by cryptographic proof.
Security registration
The security is registered only after payment verification
BONDIX separates the cash leg from the asset leg: it neither executes payments nor holds funds. After a payment has been made directly between investor and issuer, the platform verifies its consistency with the subscription before updating the DLT registry.
This is not an atomic DvP transaction. Security delivery does not occur automatically with the payment; it is conditional on a positive reconciliation of the evidence required by the operating model.
02
Subscription
The investor specifies the amount to subscribe. The platform creates a unique payment reference for the transaction.
03
Direct payment
The investor pays the issuer's Ethereum L2 wallet using the assigned payment reference.
04
Verification and entry
Only after consistency checks does the platform record ownership on the investor's Radix wallet.
The payment reference
A unique identifier connecting the payment instruction to its subscription and registry evidence. It associates:
- investor and issuer;
- the parties' Ethereum L2 wallets;
- the parties' Radix wallets;
- the minibond identifier;
- principal amount and price;
- total issuance and subscribed amount;
- duration, coupon frequency and rate;
- the token selected for payment.
Checks before registration
Registration requires consistency between the payment reference, the observed payment and subscription data, together with valid wallet-control evidence and the applicable eligibility checks.
PaymentCash-leg event
ReconciliationReference and amount
ValidationWallets and rules
DLT registrySecurity assignment