Qualified Custodian

A Qualified Custodian (QC) is a financial institution, such as a bank or broker-dealer, regulated under the U.S. Securities and Exchange Commission's (SEC) Custody Rule (Rule 206(4)-2), legally mandated to hold and safeguard client funds and securities for registered investment advisers, ensuring asset segregation and protection against misappropriation or insolvency. The QC's primary function is to provide a secure, independently verified record of asset ownership, which is critical for investor protection in both traditional finance and the emerging market of tokenized Real-World Assets (RWA).