---
slug: loop-classification
title: Closed- vs Open-Loop Classification
state: super-draft
id: null
repo: null
proposed_by: ben.stull@wiggleverse.org
proposed_at: '2026-06-01'
graduated_at: null
graduated_by: null
owners:
- ben.stull
arbiters: []
tags:
- payments
---

Whether stored value is clean store credit or a regulated money-transmission instrument turns on a single line: does value move only among commonly-owned storefronts, or between unaffiliated owners? This RFC defines that closed- versus open-loop classification, keyed to common ownership rather than storefront count. It documents the regulatory line the two-tier model rests on — it does not clear it, which remains a legal matter for counsel.