Not correct.

You sign the message with YOUR private key.   The signature is verified by
the recipient using your certificate which is issued by a CA.

If you are also enveloping, then the data is encrypted under a "one-shot"
symmetric key, and this symmteric key is then encrypted using the public key
of the intended recipient (obtained from hiscert).   Only the intended
recipient can decrypt that one shot key which enables them to decrypt the
message because only he has the matching private key that will allow this.

Dave


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