NodeAsset vs. ERC-3643 and MPL-3643

ERC-3643 on EVM chains and MPL-3643 on Solana are permissioned-token standards: the token itself carries the identity checks, the compliance rules and the agent powers. On Canton, the same jobs are shared between the token standards (CIP-56 and CIP-112), the DA Registry and NodeAsset.

NodeAsset is an engine, not a token standard. It uses Canton’s token standards and the DA Registry, and adds the primary market, servicing and controls on top.

Layer by layer

Layer	ERC-3643 (EVM)	MPL-3643 (Solana)	Canton + NodeAsset
Token	In the standard	In the standard, on Token-2022	CIP-56 holdings and transfers
Settlement	Add-on swap contracts, on one chain	Add-ons	CIP-112 batch settlement across registries, in one transaction
Identity	ONCHAINID, public	The Solana Attestation Service	Credentials visible only to the parties; Canton standards for credentials are being drafted
Compliance	A compliance contract checked on every transfer	Token-level rules	The registrar co-authorizes every transfer, plus versioned policies
Agent powers	In the standard	In the standard	Issuer powers, only with the holder’s consent
Privacy	Public	Public	Need-to-know
New asset	A new contract suite per token	A new mint with extensions	Configuration on one vetted package set

Term by term

If you know ERC-3643, these tables map its terms onto Canton and NodeAsset.

Identity and eligibility

ERC-3643 term	NodeAsset / Canton equivalent	What’s different
ONCHAINID, one identity contract per investor	A Canton party per investor, hosted on its custodian’s node	No public identity: only the parties it deals with see it
The identity registry’s check on every transfer	The DA Registry’s credential, checked on every mint, transfer and burn	A lapsed credential stops its holder until it is renewed
Claim topics and trusted issuers	Eligibility claims on the credential: residency, investor type, accreditation	Drawn from your KYC or a trusted issuer; no personal data on the ledger

Issuance and redemption

ERC-3643 term	NodeAsset / Canton equivalent	What’s different
Mint, by an agent	A leg of the subscription’s settlement, at the NAV the price source signed	The registrar signs every mint, and none goes unplanned
Burn, by an agent	A leg of the redemption’s settlement, at the price source’s price	Nobody burns an investor’s units alone

Transfers and settlement

ERC-3643 term	NodeAsset / Canton equivalent	What’s different
Compliance modules on every transfer	The registry checks who may hold; the asset’s versioned policy checks how much and when	Limits apply on NodeAsset’s paths; reconciliation finds a breach anywhere else
DvP add-ons and swap contracts	CIP-112 batch settlement across two registries, in one transaction	Atomic across registries, and each investor sees only its own legs
A transfer between eligible holders	The holders’ own transfer at the registry, which checks both credentials	Found and graded by reconciliation; NodeAsset runs no trading venue

Controls

ERC-3643 term	NodeAsset / Canton equivalent	What’s different
Freeze an address	A freeze on the investor at the venue, entire or “liquidate only”; the registrar lists a fully frozen investor on its block list	Immediate at the venue; lifting it takes two approvers
Forced transfer	A move of a consenting investor’s units, citing an order	Needs the registrar’s standing agreement, the investor’s prior consent and two approvers at the venue
Recovery to a new wallet	Everything a consenting investor holds, moved to its registered successor	Keys stay with the custodian’s node; two approvers sign
Pause	A hold on the asset at the venue, in one call; a backed instrument’s mints and redemptions stop on the ledger under the registrar’s own supply terms	Resuming takes two approvers

Pricing and income

ERC-3643 term	NodeAsset / Canton equivalent	What’s different
A NAV or rebasing provider	The price source’s signed NAV; income paid as new units, measured per holder	Income is kept per holder and reconciled, not applied as a multiplier to every balance

Events and reporting

ERC-3643 term	NodeAsset / Canton equivalent	What’s different
Token balances	DA Registry holdings, and the cap table at any point in time	No public balance query: the register is the registrar’s and the venue’s view
Transfer, freeze and recovery events	An ordered event feed and signed webhooks	Events are scoped to each reader’s role

How NodeAsset builds on CIP-112

CIP-112 lets each party set aside its own side of a trade, then settles every leg at once. NodeAsset uses it for:

DvP against on-ledger cash (a tokenized deposit or a stablecoin) across two registries: a subscription moves the investor’s cash and mints the fund’s units in one transaction, on the cash issuer’s registry and the fund’s.
Netted dealing cycles: a day’s subscriptions and redemptions settle together at one NAV, and the fund’s cash account moves only the net.
Committed allocations: an investor’s payment is set aside for one settlement, and nothing else can spend it. If the order is withdrawn, the venue releases it at once.

Each registry checks its own leg, and if one refuses, the whole transaction fails and nothing moves.

Privacy

On a public chain, anyone can read every balance and transfer, and see which wallets are admitted. Permissioned tokens keep personal data off the chain, but positions stay public. On Canton, a contract is shared only with the parties to it. An investor sees its own holdings and orders, never another investor’s. The issuer sees its own asset’s register, and the issuer of the cash paying for an order sees only its own leg. The DA Registry’s operator sees the activity on its registry. See Who sees what.

About MPL-3643

Metaplex announced MPL-3643 in September 2026. It is modelled on ERC-3643, built on Token-2022, the Solana Attestation Service and sRFC 37, and in limited alpha. Related: Settlement across registries · NodeAsset vs. EVM/SVM platforms

NodeAsset

Capabilities

Comparison with EVM/SVM

Evaluate

NodeAsset vs. ERC-3643 and MPL-3643

Layer by layer

Term by term

Identity and eligibility

Issuance and redemption

Transfers and settlement

Controls

Pricing and income

Events and reporting

How NodeAsset builds on CIP-112

Privacy

About MPL-3643

​Layer by layer

​Term by term

​Identity and eligibility

​Issuance and redemption

​Transfers and settlement

​Controls

​Pricing and income

​Events and reporting

​How NodeAsset builds on CIP-112

​Privacy

​About MPL-3643

Layer by layer

Term by term

Identity and eligibility

Issuance and redemption

Transfers and settlement

Controls

Pricing and income

Events and reporting

How NodeAsset builds on CIP-112

Privacy

About MPL-3643