The structure
The token is the easy part.
Minting a token takes minutes. Making it mean something takes a legal structure a court will recognise: a Serbian SPV, an instrument that binds the issuer, a share pledge registered in holders' favour where the instrument allows one, and a documented route to enforcement.
Built per issuance, not assumed once
The structure is put together for each issuance rather than assumed once for everyone. What the issuer commits to, what the holder can claim, and how that claim is enforced are set out in that issuance’s whitepaper before anything is sold.
Which instruments can carry a registered share pledge, and which require a Serbian SPV, differs by instrument — each instrument page states its own terms rather than inheriting a generic promise.
Working through a specific structure
The full legal documentation is prepared with the issuer during engagement — the incorporation route, the pledge registration, and the conversion mechanics for that particular instrument. If you are weighing an issuance, that is where those questions get answered concretely rather than in general terms.