All tokens issued reside in a secure custodial vault at Coinbase, one of the largest digital currency exchanges in the world with over 43 million users, $90 billion in crypto in over 100 countries.  Coinbase’s custody business is a fiduciary under New York State Banking Law and regularly undergoes financial and security audits by external firms.  Coinbase’s crypto custodial business is held to the same capital requirements as traditional financial custodial firms.