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TESA is non-custodial. Funds never pass through TESA’s balance sheet, are not pooled with those of other clients, and the keys remain with the custodian the company already uses, whether self-custody or a qualified custodian. Two points underpin the design:
  • Traceability: every inflow, allocation, rebalancing and redemption leaves an auditable on-chain record, which shortens accounting reconciliation and audits.
  • Local framework: the product was designed for the Brazilian regulatory environment from the start, not adapted afterwards.