For the purposes of Paragraph SIO-10.2.2(b), where a stablecoin issuer provides a third-party custodian to a client it must undertake an appropriate risk assessment of that custodian. Stablecoin issuers must also retain ultimate responsibility for safe custody of approved stablecoins held on behalf of clients and ensure that they continue to meet all their regulatory obligations with respect to custody service and outsourced activities.