Educational Demo Only — Illustrates MiCA (EU Reg. 2023/1114) requirements. Not legal advice. Not compliance certification.

ART Redemption Rights Portal

Model the Art. 39 redemption right for Asset-Referenced Tokens: market value, no fee, issuer-defined timeframe

Create Redemption Request

ARTs are redeemed at the market value of the assets they reference, or by delivering those assets (Art. 39(2)). There is no fixed par value.

Redemption is free of charge (Art. 39(3)). A liquidity fee is only possible as a recovery-plan measure (Art. 46(1)(a)).

Load Example Data:

Submit a form or load an example to see redemption details

MiCA Compliance Note

Implemented:

  • Art. 39(1) — Right of redemption at all times against the issuer
  • Art. 39(2) — Redemption in funds equal to the market value of the referenced assets, or by delivering those assets; timeframe set by the issuer's policy (Art. 39(2)(a); example: 10 working days)
  • Art. 39(3) — No redemption fee, except a liquidity fee provided for in the recovery plan (Art. 46(1)(a))

Out of scope:

  • Art. 39(2)(b)–(e) — Redemption mechanisms in stressed markets, valuation principles, settlement conditions and reserve management measures
  • Art. 39(2), second subparagraph — Redemption in the same official currency as the one used to buy the token
  • Art. 40 — Prohibition of interest (not modelled)
  • Art. 46 — Drawing up the recovery plan and its activation by the competent authority (the fee option only simulates an activated plan)
  • Art. 35–38 — Reserve management and own funds requirements (covered in separate POCs)
  • Real blockchain transaction settlement or escrow mechanics

What this POC does not implement

  • ❌ Real settlement — Request tracking only; no actual EUR transfer
  • ❌ Blockchain integration — No token transfer to burner address
  • ❌ Banking API integration — Destination account validation is syntactic only
  • ❌ Customer authorization workflows — Assumes holder consent already obtained
  • ❌ NCA notification — No reporting to competent authority
  • ❌ Persistent storage — All data is in-memory and lost on page reload