For the purposes of SIO-6.4.1(b) (safeguarding the reserve assets), a stablecoin issuer can (i) manage the reserve assets by holding them with a bank and an investment firm or (ii) appoint a custodian to manage the reserve assets. In either case, the stablecoin issuer is legally responsible for ensuring that the reserve assets are safeguarded appropriately and the stablecoin issuer will be subject to the regulatory requirements that are stipulated for reserve assets.