Codema Global Rating · MiCA · Blockchain Assurance

BLOCKCHAIN
CLAIMS
REQUIRE
BLOCKCHAIN EVIDENCE.

Independent assurance for tokenization platforms, digital asset custodians, and distributed ledger ecosystems — with Codema Global Rating accreditation for standardised, verifiable trust ratings that your institutional counterparties can rely on.

Aligned with
Codema RatingMiCA AlignedDLT Assurance
Codema RatingAccredited partner
MiCARegulation aligned
DLT AssuranceTechnical evaluation
RWA TokenizationStructure review
CASPs & ARTsEntity coverage

The challenge

Trustless systems
still need
human proof.

Institutional investors, regulators, and counterparties require documented evidence of governance, security, and operational integrity — not cryptographic claims alone. Trust must be demonstrated, not assumed.

Institutional counterparties require verifiable evidence

Institutional investors, fund administrators, and regulated banking counterparties operating in digital asset ecosystems require the same evidence-based due diligence they apply to traditional financial infrastructure. Cryptographic correctness does not satisfy compliance teams, legal counsel, or investment committees — documented governance, control assessment, and independent validation does.

MiCA and regulatory frameworks are reshaping compliance obligations

The EU Markets in Crypto-Assets Regulation creates mandatory requirements for crypto-asset service providers, asset-referenced token issuers, and e-money token issuers — with authorisation, governance, and disclosure obligations that are enforceable across the EU. Demonstrating verified trust has become a commercial prerequisite, not just a regulatory formality.

Engagement models

Two assurance tracks.
One verifiable standard.

EONTA delivers digital trust assurance through two structured tracks — Codema-rated evaluation and MiCA compliance assurance — each calibrated to your platform type and regulatory environment.

Codema Global Rating · Independent Assessment

Codema Trust Rating

Structured, evidence-based evaluation of your distributed system — governance, technical architecture, and operational integrity — producing a formal Codema Global Rating that institutional counterparties and regulators can reference and verify.

  • Governance and control framework evaluation
  • Node independence and distribution assessment
  • Smart contract and protocol security review
  • Tokenization structure and RWA integrity
  • Operational security and key management controls

Codema Global Rating — standardised and comparable

Verifiable outputs for institutional counterparties

Independent — never an advisory or implementation role

"Can our institutional counterparties verify our trust posture against a standardised, independent rating?"
MiCA · CASP Authorisation Readiness

MiCA Compliance Assurance

Independent assessment of your readiness against MiCA obligations — authorisation requirements, governance standards, disclosure obligations, and prudential requirements — for CASPs, ART issuers, and EMT issuers.

  • CASP authorisation requirement gap assessment
  • ART and EMT reserve and disclosure review
  • Governance and management body requirements
  • White paper and disclosure documentation review
  • Competent authority submission preparation support

MiCA-aligned — current regulation applied

Competent authority submission structured

Ongoing obligations framework included

"Are we prepared for MiCA authorisation and the ongoing compliance obligations it creates?"

Core capabilities

What we evaluate and rate.

Each capability delivers structured, evidence-based evaluation — from governance to technical architecture — with Codema Global Rating outputs and MiCA compliance documentation where applicable.

Governance & Control Validation

Evaluation of protocol governance, decision-making structures, key management, and administrative controls across your distributed system or digital asset platform.

Node Independence Assessment

Technical evaluation of node distribution, validator independence, consensus mechanism integrity, and concentration risk across your distributed ledger infrastructure.

Tokenization & RWA Structure Review

Independent assessment of real-world asset tokenization structures — asset backing adequacy, custody arrangements, legal integrity, and disclosure documentation.

Smart Contract Risk Review

Assessment of smart contract governance — audit history, upgrade mechanisms, access control, and ongoing monitoring processes for deployed contract infrastructure.

Codema Global Rating Delivery

Formal trust rating delivery through EONTA's accreditation as a Codema Global Rating partner — standardised, comparable, and verifiable by institutional counterparties and regulators.

MiCA Readiness Assessment

Structured gap analysis against MiCA requirements for your entity type — CASP authorisation, ART/EMT issuance obligations, and ongoing compliance programme requirements.

How it works

From digital asset claims
to verified trust.

A structured engagement that translates technical complexity into documented, verifiable evidence — producing outputs that institutional counterparties, regulators, and investors can rely on.

Scope

Define entity type, platform architecture, regulatory jurisdiction, and applicable Codema rating tier and MiCA obligation mapping.

Assess

Structured governance, technical, and operational evaluation — assessing controls, architecture, and compliance posture against applicable standards.

Evidence

Documentation review and evidence package assembly — producing traceable, verifiable assurance outputs from governance through technical infrastructure.

Rate & Report

Formal Codema Global Rating delivery and MiCA gap report — structured for institutional counterparty disclosure and competent authority review.

Why EONTA

What verified digital trust
actually requires.

Codema Global Rating Accreditation

EONTA operates as an accredited Codema Global Rating partner — applying standardised evaluation protocols that produce trust ratings comparable across platforms and verifiable by any institutional counterparty. Standardisation is the feature: a Codema rating means the same thing regardless of who holds it, which is precisely what institutional markets require.

MiCA-Aware — Institutionally Credible

Our digital trust assurance framework is built with MiCA obligations as a core reference — not retrofitted to accommodate them. The result is assurance that positions your platform for both Codema rating delivery and MiCA regulatory dialogue in a single, coordinated engagement.

Technical and Governance Depth Combined

Digital trust assurance requires both technical rigour — smart contract review, node independence assessment, cryptographic controls — and governance substance — decision-making frameworks, key management, disclosure standards. EONTA delivers both in a single integrated evaluation.

Who this is for

Built for those
building digital trust ecosystems.

EONTA's digital trust assurance services are designed for the platforms, institutions, and governance functions accountable for digital asset integrity, regulatory standing, and institutional credibility.

Primary stakeholders

Tokenization Platform OperatorsCrypto-Asset Service ProvidersDigital Asset CustodiansDeFi Protocol GovernanceFinancial Institutions Exploring DLTReal World Asset IssuersFund Administrators & CustodiansCompliance & Legal Teams

Common engagement triggers

Institutional investor or counterparty due diligence requirement

Platforms requiring Codema-rated independent assurance to satisfy institutional investor, fund administrator, or regulated counterparty due diligence requirements.

MiCA authorisation or regulatory registration approaching

Crypto-asset service providers and token issuers requiring independent compliance assurance as part of MiCA authorisation preparation or competent authority engagement.

Tokenization programme or RWA product launch

Institutions launching real-world asset tokenization products requiring independent structure assessment and Codema trust rating before institutional distribution.

Frequently asked

Questions before
every digital trust engagement.

The Codema Global Rating is a standardised trust evaluation framework for distributed systems and digital asset platforms. It assesses the governance, operational controls, security posture, and transparency of platforms operating in distributed or decentralised environments. The rating is used by institutional counterparties, investors, and regulators to evaluate the trustworthiness of digital asset platforms before establishing relationships or exposure.
They are complementary but distinct. A SOC 2 audit assesses the security, availability, and confidentiality controls of a service organisation — typically a centralised SaaS or cloud provider. A Codema rating assesses the trust posture of a distributed system or digital asset platform, including governance decentralisation, smart contract risk, consensus mechanism integrity, and counterparty transparency. Many platforms benefit from both.
Yes, within defined scope. Our smart contract assessment focuses on governance — audit history and quality, upgrade mechanisms, emergency controls, and oracle integrity — rather than code-level vulnerability testing. Code-level smart contract audits are conducted by specialist firms; EONTA assesses whether the governance around smart contracts meets institutional trust standards.
Our Digital Trust service covers: digital asset exchanges and custodians; tokenisation platforms; DeFi protocol governance; distributed ledger infrastructure used in financial services; CBDC and stablecoin issuer governance; and cross-border payment networks using distributed architecture. The framework adapts to the specific governance and operational structure of each platform type.
An initial scoping call requires an overview of your platform architecture, governance structure, and any existing audit or assurance documentation. We typically review technical whitepapers, governance documentation, and any previous audit reports as preliminary inputs. All scoping conversations are confidential. The engagement scope is confirmed before any formal work commences.
Deliverables include: a Codema Global Rating assessment report with domain-level scores; a governance and control effectiveness review; a transparency and disclosure assessment; a smart contract governance evaluation; a risk and remediation matrix; and an institutional-grade summary suitable for counterparty due diligence and regulatory disclosure. The rating and evidence package are structured for use with institutional investors and regulators.
Regulators across the EU (MiCA), UK (FCA), and MENA are requiring digital asset platforms to demonstrate governance maturity and operational trust. EONTA's assurance outputs — structured around the Codema framework — provide the documented governance evidence that supports regulatory authorisation applications, supervisory examinations, and institutional counterparty onboarding. We have experience with the regulatory requirements of multiple jurisdictions.
They are complementary but distinct. A Codema rating assesses the trust posture of a distributed system or platform — governance, technical integrity, operational controls. MiCA compliance is a regulatory authorisation and ongoing obligation regime for specific entity types operating in the EU. A Codema-rated platform is not automatically MiCA-compliant, and a MiCA-authorised entity is not automatically Codema-rated. EONTA can deliver both in a coordinated engagement, and the evidence base for each significantly overlaps.
Yes, but within defined scope. Our smart contract assessment focuses on governance — audit history and quality, upgrade mechanism controls, admin key management, and ongoing monitoring processes. We do not perform primary smart contract security audits (which require specialist automated and manual code analysis by dedicated security firms). Where smart contract security audit history exists, we evaluate its quality and recency as part of our governance assessment.
EONTA assesses: public and permissioned blockchain networks; tokenization platforms issuing digital securities, RWAs, or digital commodities; crypto-asset service providers including exchanges, custodians, and brokers; DeFi protocol governance entities; and financial institutions exploring distributed ledger technology for settlement, custody, or issuance infrastructure. Our framework is platform-agnostic and adapted to each entity's specific architecture and regulatory context.
A Codema rating is an independent trust evaluation that produces a standardised, comparable rating output — designed for institutional market consumption and counterparty due diligence. An audit opinion is a formal assurance statement produced by an audit firm on specific financial or control assertions. They serve different purposes: a Codema rating communicates trustworthiness to institutional markets; an audit opinion satisfies specific regulatory or contractual assurance requirements. EONTA produces Codema ratings, not audit opinions.
Standard deliverables include: a formal Codema Global Rating certificate and supporting evaluation report; a governance and control assessment with detailed findings; a technical architecture review summary; where applicable, a tokenization structure and RWA integrity assessment; a MiCA gap analysis where included; and a board-ready executive summary. All deliverables are structured for counterparty disclosure and regulatory review.

Take the next step

Can your institutional counterparties verify your trust posture right now?

A Codema-rated EONTA assessment gives investors, regulators, and partners a standardised, verifiable answer. Define the scope in 30 minutes.

All scoping conversations are confidential. EONTA does not share engagement details with third parties.