Onboarding

This guide covers the process from applying for a workspace to selling a first pool. Read it in full before starting.

Overview

Step 2 has the longest lead time and determines whether registration is legally effective. Start it at the same time as step 1 and run it in parallel with the remaining steps.

1. Apply for a workspace

Go to spcr.io, sign in or create an account, select Create a workspace, and complete the request. The request asks for:

• Your company, jurisdiction, registration number and regulatory status.
• Whether you originate or fund receivables. This determines the workspace type.
• How custody is handled. Either you hold the receivables with an existing custodian, or STOKR arranges custody.
• If STOKR arranges custody, a backup address that you control. Certificates are sent to this address if they are ever released from STOKR custody. This can be set later; see step 4.

2. Prepare the legal documentation

Complete this step before registering receivables.

Why it is required

SPCR records that a certificate exists and which address holds it. The certificate represents the receivable. It is not the receivable, and transferring it is not an assignment.

Legal title to a receivable passes under your assignment or purchase documentation, under the law governing the receivable. Every sale therefore involves two transfers, which must remain aligned:

1. the legal assignment of the claim, and
2. the on-chain transfer of the certificate.

If the two diverge, the registry no longer reflects legal ownership:

• Certificate held by A, claim assigned to B. B owns the receivable, but the registry shows A as the holder. A funder checking the registry receives an accurate record of the certificate that does not match legal title.
• Claim assigned twice, certificate transferred once. The registry records one sale and has no record of the other. The uniqueness check is bypassed.

Both cases arise when the legal transfer and the on-chain transfer are executed independently.

Documentation requirements

Your documentation should:

• Define and identify the certificate. Specify the registry contract, the chain, and the certificate, by its identifier or by the Loan ID and pool from which the identifier is derived.
• Link the two transfers. Make any assignment, sale, sub-participation or pledge of a receivable conditional on, and simultaneous with, transfer of the corresponding certificate. Prohibit transfer of a certificate other than as part of a transfer of the claim it represents.
• Require registration of each receivable before it is offered to any funder, and prohibit registering the same receivable twice.
• Specify the remedy for divergence. State which record governs and include a covenant to remedy any divergence within a defined period.
• Govern the pool passkey. The passkey allows its holder to verify every receivable in the pool. Cover who may hold it, confidentiality obligations, and the procedure on disclosure or on sale of the pool.
• Provide for release from custody, where STOKR holds custody. See Continuity and recovery for the obligation that should survive termination and bind a liquidator.

The covenants typically belong in the receivables purchase or facility agreement, and the transfer mechanics in the assignment or transfer certificate. The appropriate location depends on your structure.

3. Workspace opened

You receive an email with a link to your workspace, which is hosted at its own subdomain, for example yourco.spcr.io. Sign in with the email address used in your application.

Access is normally granted to all addresses on your email domain, so colleagues do not need an invitation. Alternatively, access can be restricted to named addresses, which suits a single user within a large organisation. Contact STOKR to confirm which setting applies to your workspace.

4. Set and confirm a backup address

This step applies only where STOKR holds custody.

Open Confirm my address, create a confirmation, and select Set as my backup address on the result. This signs a challenge with the address's key, which proves that you control it. STOKR whitelists the address in custody only after it has been confirmed.

Complete this step during onboarding. A backup address cannot be confirmed during an incident, and STOKR does not release certificates to an unconfirmed address.

5. Define your Loan ID scheme

A Loan ID is permanent. Once registered, it is reserved across the entire registry and can never be reused or registered again. This is what prevents double-pledging.

Loan IDs must contain no spaces, be 5 to 64 characters long, and use only letters, digits and - _ / .. See Loan ID rules.

Before generating Loan IDs:

1. Use an existing reference if it is unique across your whole book and never reused. Do not use a reference that is recycled.
2. Encode the pool in the identifier. An identifier such as ACME-2026-P4-L0117 identifies its pool without a further lookup.
3. Allow for tranche prefixes. If you may tranche, the prefix is added to the Loan ID and counts toward the 64-character limit.

6. Create your first pool

Select Register receivables, then Create pool. Enter a code, a name, a passkey, and whether the pool represents a whole asset or a tranche.

See Pools and passkeys.

7. Register a test batch

Register a small number of real Loan IDs rather than your full book.

Upload a loan tape or enter the Loan IDs. Each row is processed independently, so an invalid row does not block valid ones, and each returns its own result and transaction link. Accepted rows are recorded on chain immediately. No STOKR approval is required.

To generate a test loan tape with your own prefix, use the builder on Format and example files.

8. Verify as a funder

Go to spcr.io, enter one of the Loan IDs and the pool passkey, and select verify. The result is the same view a funder receives.

Next, attempt to register the same Loan ID into a different pool. The registry rejects it, confirming that the uniqueness check is in effect.

9. Sell a pool

Select Transfer, choose the pool and the funder, review, and confirm.

• Transfers are irreversible. A confirmed on-chain batch cannot be undone.
• You may be asked to re-enter your password if you have not signed in recently.
• Large pools are processed in resumable batches. The screen reports the number of receivables transferred.

Send the funder the Loan IDs and the pool passkey so they can verify the pool. For a tranche pool, send the loan tape generated at registration. It contains the prefixed identifiers and the passkey, and allows the whole pool to be verified in one upload.

10. Integrate with your systems

No API is currently available. Integration is operational rather than technical, because SPCR requires only a single column of Loan IDs.

When to register. Register each receivable before it is offered to a funder. The uniqueness check protects a receivable only if it runs before the receivable is offered. Suitable points are at origination, or when a receivable is allocated to a pool intended for sale.

Register the full book. The uniqueness check covers registered receivables only. A partially registered book leaves its unregistered receivables unprotected.

Required output. A single column of Loan IDs in .xlsx, .xls, .csv, .tsv or plain text, up to 5,000 rows per submission. An existing loan tape export from your origination or servicing system can be used unchanged; all other columns are ignored.

Responsibility. Registration is performed by whoever manages your drawdown or pool-assembly process. It consists of a file upload and a review screen.

Records to retain. Retain your pool codes, passkeys, Loan IDs and the identifiers derived from them. This is the only data SPCR holds that cannot be reconstructed from the blockchain, and retaining it allows you to operate independently of SPCR. The loan tape offered after each registration contains this data. See Continuity and recovery.

Programmatic access. An API for registration, transfer and holdings queries is in development. Contact STOKR to register interest and describe your requirements.