ComTech GmbH is a technology supplier. The regulated parties are its clients.
ComTech GmbH does not issue, hold, custody, trade or redeem, and it holds no financial-services licence. Its clients — issuers, banks, custodians and their advisers — carry the regulatory obligations for the instruments they bring on-chain. The technology is built so those parties can meet their obligations.
Where ComTech GmbH sits
Every party around the centre carries a regulatory role. The centre supplies
technology and carries none.