# 1. Custody you can trust

## Bespoke custody by deployment strategy

<mark style="color:blue;">**Noon**</mark> is a unique stablecoin protocol, with an ever increasing number of deployment strategies. We cannot, therefore, deploy a homogenous, simplistic custody framework - no, <mark style="color:blue;">**Noon**</mark> requires a complex, bespoke custody framework, which incorporates customised custody solutions for each of its deployment strategies across CeFi, DeFi, and TradFi.

### U.S. treasury bills \[TradFi]

Our U.S. treasury bills are held by a licensed broker, [**Alpaca Securities**](https://alpaca.markets/), via our RWA partner, [**Dinari**](mailto:undefined).

* **Regulatory Compliance:** Alpaca is a member of the Financial Industry Regulatory Authority (FINRA) and SIPC.
* **Insurance Coverage:** Alpaca maintains excess insurance coverage through Lloyd’s of London, supplementing SIPC protection.

This structure ensures that our holdings in tokenised Treasury Bills are secure and compliant with regulatory standards.

### Funding rate arbitrage \[CeFi]

All collateral deployed to the Funding Rate Arbitrage strategy is held off-exchange and settled via tri-partite settlement agreements, isolating funds from exchange-related risks.

We utilise established Web3 custodians like [**Ceffu**](https://www.ceffu.com/), who manage billions in assets for top Web3 institutions globally, providing additional security and reliability.

### CLOs \[TradFi]

CLOs assets are custodied in an identical manner to U.S. Treasury Bills.

### Private credit \[TradFi]

Private Credit assets are custodied by the Private Credit Fund that we have deployed into. A substantial part of our Private Credit risk assessment focused on the credit-worthiness of the Fund, since they would be deploying as well as custodying our asset.&#x20;

We selected Fasanara, in part due to their USD6b AUM and lengthy track record without incidents.

### **DeFi lending \[DeFi]**

Our DeFi lending positions are held via a secure, institutional grade MPC wallet, **ForDefi**. These positions are all visible on-chain, in our public wallet addresses as detailed in our Transparency page ([here](/built-for-safety/transparency.md)).

### Yield-Trading: Principle Tokens (PT) \[DeFi]

Yield-Trading: Principle Tokens (PT) assets are custodied in an identical manner to DeFi lending.

### Looping \[DeFi]

Looping assets are custodied in an identical manner to DeFi lending.

### Future Deployment Strategies

All future deployment strategies will have **asset custody and security as a core focus**. We will only deploy funds when assets are secure and segregated. As a stablecoin, we recognise that even a single black-swan event in a self-custodial environment can cause irreparable harm. <mark style="color:blue;">**Noon**</mark>’s approach mitigates this risk by prioritising **secure, regulated custody at every stage**.

### Additional Resources

For more details on all deployment strategies, including Collateralised Loan Obligations (CLOs), Private Credit Funds, DeFi Lending, and Principal Tokens, visit our [**Deployment Strategies page**](/built-for-high-yields/our-deployment-strategies.md).


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