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I know that an issuer of a custom asset can transfer tokens to others but is it possible that issuer can create further issuer?

For instance, I have setup an infrastructure to provide $COIN. Now different companies want to use my service so that they can distribute coins to their customer. What do I need to do that I not only transfer X amount of $COIN but also make them an issuer of quota of Y tokens, so that they can issue to their customers and customers can redeem to them.

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It's not possible natively but here are some options:

1) They can not issue new tokens but only keep and distribute the maximum amount of tokens that you send them.

2) Simply add them as a signer to your issuing account (no quota, they can issue unlimited tokens)

3) You implement your own webservice that issues new tokens on request of your authorized partners. Either using some conventional authentication or do it the crypto way: set up a multisig issuing account, have transactions created+signed by partners and verify+co-sign yourself (or the other way round). Be aware of weight/threshold setting pitfalls that could enable your partners to modify your account.

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