JoDa Crypto

For a tokenized fund, an exit needs a defined process. Consider an investor who needs cash between the fund’s dealing windows. One route may be redemption under the fund’s terms. Another may be a sale through an available secondary market. Each route involves specific counterparties, eligibility requirements, pricing and settlement arrangements. Redemption may involve notice periods, scheduled processing or limits. A secondary sale depends on an eligible buyer, available liquidity and an executable price. The ability to transfer a token does not, by itself, establish when a holder can receive cash. For fund managers, these arrangements belong in the information participants use to evaluate the product. Fees, restrictions and conditions affecting an exit should be clear before an investor needs to act. At REAL, our approach connects the product’s operating requirements with its onchain configuration and the institutions supporting its lifecycle. That includes coordinating permissions, settlement logic and market-access arrangements with the relevant counterparties. Understanding an exit means understanding the process from the holder’s request through to settlement, including who handles each step.