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Onboarding

Two paths: holding notes, and bringing a portfolio.

Investors​

Eligibility​

The current programme is open. Notes carry no transfer restriction at the register.

An issue restricted to qualified investors carries an eligibility gate applied at the register, so a transfer to an address outside the permitted class does not settle. That is set at structuring, per series, and is listed under responsibilities. Where it applies, the assessment of whether a subscriber is eligible remains with the party distributing the notes.

CARA7 does not provide investment advice and does not assess suitability.

What you need​

AccountA Stellar account, under your own keys or with a custodian
TrustlineTo the settlement asset, EURC, before the account can receive payment
FundsEURC, in multiples of the note denomination

There is no application to complete, no document to submit and no waiting period. Holding a note requires an account that can receive the settlement asset, and nothing else.

Custody​

Notes are held in the holder's own account. There is no nominee, no omnibus structure and no CARA7-controlled wallet holding investor assets.

Institutions that cannot self-custody hold through a wallet provider offering policy-controlled signing, with the same rights and the same register entry. The custody arrangement is between the holder and their provider; it does not change the transaction.

Multiple users on one account​

Where several people act for one holder, separation of duties is provided by the custody arrangement rather than by CARA7. A wallet provider with policy-controlled signing supports the usual split: an operator who can propose a transaction, an approver who can sign, and read-only access for finance and audit. Read access to positions and payment history is public and requires no credential.

Subscribing​

During the subscription window, subscribe at par in whole notes. Funds are held in escrow by the issuer and are refundable in full until closing. At closing your notes are issued to your account. Mechanics: subscribing.

Originators​

What we look at first​

Asset classGranular receivables with a scheduled payment profile
PortfolioSize, seasoning, weighted average life, arrears and loss history
DataWhat exists per contract today, in what system, and how often it updates
ServicingWho collects, and what a servicing transfer would require
RetentionAbility to retain the junior class and the residual

The data question decides more than the others. The platform applies a collections figure and publishes everything that follows from it, so the originator's reporting must be reliable at the frequency of the payment dates. That is a requirement on the systems, not on the size of the portfolio.

What a transaction requires at closing​

  • The portfolio and its per-contract data as at the cut-off date
  • True sale documentation transferring the receivables to the issuer
  • The subordinated loan funding the cash reserve
  • Class sizes, coupons, reserve level and payment frequency, agreed at structuring

What happens then​

Each payment date, the originator reports collections. The platform applies them, settles every class, pays every holder and publishes the result with an independent reconciliation. The originator services the receivables as it does today and retains the customer relationship.

Jurisdictions​

The current programme finances French receivables. The structure is not France-specific, but two elements are jurisdiction-dependent and are settled before a transaction is structured: the law governing the true sale, and the legal status of the register in the issuer's jurisdiction. See status and legal.

Starting a conversation​

Contact us with the asset class, an indicative portfolio size and a description of the data available per contract. That is enough to say whether the programme fits and what the structuring work would be.