Participants

Membership for the institutions that move regulated value.

NOVRAIL is an institutional-only network. Membership is defined by class, jurisdiction, and the operational role the institution plays in the movement of digital value.

Membership classes
Chartered banking institutions

Commercial banks, wholesale banks, and licensed banking groups participating in institutional settlement flows.

Central banks and public sector

Central banks, monetary authorities, and public sector participants connecting wholesale and sovereign systems.

Payment institutions

Licensed payment institutions, e-money institutions, and regulated non-bank payment providers.

Custodians and asset servicers

Institutional custodians, asset servicers, and qualified digital asset custodians.

Exchanges and trading venues

Regulated exchanges, MTFs, ATSs, and institutional digital asset trading venues.

Stablecoin issuers

Regulated stablecoin issuers, reserve managers, and treasury operators participating in the network.

Tokenization platforms

Institutional tokenization platforms, transfer agents, and issuance infrastructures for regulated tokenized assets.

Distributed ledger operators

Operators of permissioned institutional ledgers coordinating with NOVRAIL for state and finality.

Admission

A rules-based, class-scoped process.

  • Class determination and jurisdictional review.
  • Regulatory standing, licensing, and operational readiness assessment.
  • Institutional identity issuance and rulebook acceptance.
  • Technical onboarding across message families, identity primitives, and confirmation flows.
  • Activation on the network under class-appropriate rights and obligations.
Founding membership

A defined, time-bound cohort.

Founding members shape the initial rulebook, message families, and operating priorities of the network. Founding status is limited by class and jurisdiction and carries specific governance rights during the network formation phase.

Request founding membership briefing