HERA-I-L, issued by Ctrl Alt Ltd, is a tokenized fund interest that gives tokenholders fractional exposure to Hera I Loan Notes through a regulated tokenization structure. [S1][S2]

The reference asset is Hera I Loan Notes (ticker HERA-I-L), a U.S.-listed instrument held through a separate legal vehicle in which tokenholders are shareholders, with the asset owned by that vehicle rather than by Ctrl Alt. [S3][S2] Returns derive from the performance of the underlying alternative asset, and capital is at risk. [S4] If the underlying issues a dividend or distribution and eligibility requirements are met, economic benefit passes through the structure. [S3] Fees are disclosed on the platform and in trade confirmations. [S5]

Ctrl Alt Ltd, incorporated in England and Wales and authorized by the Financial Conduct Authority (FRN 1045023), issues this product, with Ctrl Alt Solutions FZCO licensed by Dubai's Virtual Assets Regulatory Authority for broker-dealer and issuer services. [S5][S4] The holder's claim takes the form of a Receipt Token, a tokenised trade confirmation, while the underlying interest is shares in a Guernsey protected cell company held by the investor or a nominated third-party custodian. [S5] Access is limited to professional and institutional investors following KYC and AML onboarding. [S3][S4] No guaranteed redemption exists, and investors may hold their shares for an indefinite period. [S5]

Tokens in this class are issued onchain on Solana and the XRP Ledger (Ripple). [S6][S7] Ctrl Alt provides the technology stack to mint onchain issuance, run compliance checks, and perform real-time cap-table management, with settlement via onchain transactions and smart contracts enabling immediate transfers. [S1][S2][S7] Digital-asset custody for XRPL projects is provided through Ripple's institutional-grade custody technology. [S6][S8]

<Sources
  retrievedAt="2026-06-19"
  items={[
    { id: "S1", url: "https://www.ctrl-alt.co/" },
    { id: "S2", url: "https://www.ctrl-alt.co/for-asset-managers/asset-owners" },
    { id: "S3", url: "https://www.ctrl-alt.co/faq" },
    { id: "S4", url: "https://www.ctrl-alt.co/compliance-hub" },
    { id: "S5", url: "https://www.ctrl-alt.co/terms-and-conditions" },
    { id: "S6", url: "https://www.ctrl-alt.co/press-releases/billiton-ctrl-alt-diamond-tokenization" },
    { id: "S7", url: "https://www.ctrl-alt.co/press-releases/first-tokenized-structured-product-on-solana" },
    { id: "S8", url: "https://www.ctrl-alt.co/press-releases/ripple-expands-global-custody-footprint-into-middle-east-with-ctrl-alt" },
  ]}
/>


Tokenized funds

Ctrl Alt structures real-world assets into special-purpose vehicles, tokenizes the economic interest on public blockchains (primarily the XRP Ledger and Solana), and handles issuance, custody, and lifecycle administration.

Ctrl Alt is a real-world-asset tokenization platform issuing tokenized alternative-asset products across the XRP Ledger and Solana.

Ctrl Alt is a UK-based tokenization infrastructure provider that gives institutions and platforms access to alternative real-world assets through a single API and custody-backed token issuance.

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Real-world asset (RWA) issuers

Ctrl Alt

Hera I Loan Notes (HERA-I-L) is a tokenized fund share issued by Ctrl Alt.

HERA-I-L has been issued on Solana as a SPL Token-2022 token since January 2026.

Hera I Loan NotesHERA-I-L

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