(a) The expertise and market reputation of the third-party custodian, and once an approved stablecoin has been lodged by the licensee with the third-party custodian, the crypto-asset custodian’s performance of its services to the licensee;

(b) The arrangements, including cyber security measures, for holding and safeguarding approved stablecoins;

(c) An appropriate legal opinion as to the protection of approved stablecoins in the event of insolvency of the custodian;

(d) Whether the third-party custodian is regulated and by whom;

(e) The capital or financial resources of the third-party custodian;

(f) The credit rating of the third-party custodian; and

(g) Any other activities undertaken by the third-party custodian and, if relevant, any affiliated company.