Institutions · NEWS
Episode Six Adds Issuance and Redemption Checks for Tokenized Deposits
Verified Backing checks funds recorded on the issuer's ledger and outstanding issuance status, while banks retain responsibility for reserve assurance and regulatory obligations.
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Episode Six announced Verified Backing on October 15 as part of its E6 Token Control Ledger. The feature covers supported bank-issued tokenized deposits and stablecoins. Before issuance, it checks the backing recorded in the ledger. At redemption, it checks that the token is genuine and remains outstanding before funds are released.
The company says the capability runs on the bank’s side and is available to its customers in markets where it operates. Availability and functionality depend on the implementation and market.
The control does not hold, safeguard or attest to reserves. Issuers remain responsible for reserve, attestation, audit and regulatory obligations.
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Key takeaways
- //Recorded backing checks do not replace reserve assurance.
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