CPN, held to the leaf.
Circle Payments Network issues a root spend-mandate to an institutional wallet's agent. That agent subcontracts to another agent; that agent subcontracts to a third. Cadenza attests every hop on Arc. When the leaf tries to spend, the on-chain validator reads the leaf payload — the ceiling, the authorized spender, the expiry — before USDC clears.
Parties
Four wallets — one institutional issuer standing in for the CPN counterparty, three agent addresses on Arc. Cadenza is the sole attester and signs every payload on-chain.
Issue the chain
Three Cadenza-attested payloads, tightening as they cascade. Each step is a real Arc testnet transaction against CadenzaPayloadRegistry. On-chain enforcement: an issuer address must equal the parent's authorized spender, the child's ceiling must be ≤ parent's, and the child expiry must be ≤ parent's. Violations revert.
Attempt a spend
Agent C — the leaf — attempts to move USDC to a recipient wallet. Cadenza's registry reads the leaf payload on-chain and either authorizes settlement or reverts with the reason. Two live buttons: one within the leaf ceiling (passes), one above it (rejects). No off-chain policy engine — the answer comes from Arc.
Chain of authority
Walking from the leaf payload back to the root, hop by hop, reading each attested record from Arc. The path is the attribution — Circle sees exactly which counterparty authorized which agent under which task descriptor at each step.