CrossConversion Series
A dedicated series that facilitates conversion of securities between on-chain tokens and bankable ISIN format.
Full Definition
The CrossConversion Series is a specialized compartment within Sails.to's Series LLC structure that enables the CrossConversion process. When investors want to move between on-chain Solana tokens and bankable ISIN-bearing securities, the CrossConversion Series serves as the intermediary holding entity.
This structure ensures that the total number of securities remains constant across both formats, maintaining cap table integrity.
Why It Matters
The CrossConversion Series is the legal mechanism that makes CrossSecurities possible. When an investor crosses from on-chain to bankable format:
- Their on-chain tokens are transferred to the CrossConversion Series
- Equivalent Clearstream-held securities are transferred from the CrossConversion Series to their brokerage account
The reverse happens when crossing back to on-chain. The CrossConversion Series always holds the "opposite format" of whatever investors hold, ensuring 1:1 backing at all times.
This legal architecture provides institutional confidence in the conversion mechanism—it's not just software, it's a proper securities structure with auditable custody.