Compliance Infrastructure for Private Markets
obolos is the infrastructure layer for equity ownership and compliance.
Programmable cap tables, compliance embedded on the share, fundraising, and corporate actions. One protocol serving founders, employees, investors, and broker-dealers from incorporation until IPO.
Incorporating, raising funds, issuing options, communicating updates, all live in disconnected platforms, a headache for founders, investors and employees alike.
Cap tables diverge across multiple tools and spreadsheets. Every fundraise means weeks of reconciliation. Employees wait 7–10 years for liquidity events on shares they don't actually hold.
Even larger institutions spend billions on compliance, independently.
- $206B+/year spent globally on financial crime compliance, most duplicated across counterparties
- 61–150 days for KYC onboarding at over half of financial institutions
- $10–50K and 4–12 weeks per private securities transfer
- 70% of banks have lost clients due to slow, inefficient compliance processes
No shared ledger exists for $10.6T in private equity AUM, so every participant maintains their own version of the record. Clean hand-off for public offerings requires reconciling all shares and transfers. (Source: Ocorian Global Asset Monitor, Feb 2026)
obolos enables a world where equity agreements enforce themselves. Where ownership is verifiable, not promised. Where compliance is verified once, and trusted by all.
A founder doesn't need five tools to run their company. An investor — regardless of the scale of their operations — gets a real-time, verifiable view of what they own across every company they've backed. An employee knows exactly what their equity is worth and what it takes to exercise it. Not buried in a contract they had no time to read. The right information, to the right party, at the right moment. Not because someone sent a PDF. Because the instrument knows the rules.
A legal firm, a 409A provider, a broker-dealer — they plug into a shared compliance layer instead of rebuilding it from scratch for every deal. The same attestation that passed KYC for one transaction travels with the instrument. The cost of compliance — today measured in billions spent independently, in parallel, on the same people for the same deals — drops to the marginal cost of a cryptographic proof. Companies stop paying to prove what they already know. And start spending that time building.
obolos uses the CMTAT tokenisation standard to model Shares, Options, SAFEs and other instruments, with a proprietary Compliance Layer that codifies and enforces the rules of each jurisdiction.
Selective disclosure ensures every participant sees exactly what they need to see.
FHE (in progress) for privacy and selective disclosure.
Ethereum as our settlement and storage layer.
Ownership lives on a public, permissionless ledger that ensures privacy and enforcement rights for the shareholder, compliance abstraction for the distribution parties and a programmable equity toolkit for the operating companies.
Phase 0: Foundation ✅
Core protocol. Cap tables. Vesting. Dividends. Document storage. Board actions.
Phase 1: Private Markets ✅
Priced rounds. SAFEs. Convertibles. Options/RSUs. Transfer restrictions. Round simulations.
Phase 1.5: Secondary & Infrastructure (in progress)
Broker-dealers. Lawyers. ROFR automation. Nominee holdings. Service provider APIs. ServiceLayer built.
Phase 2: Institutions
On-chain pre-IPO auditability. DTC interoperability. Real-time settlement.
| Participant | What they get |
|---|---|
| Companies | Deploy and manage equity from Day One |
| Shareholders | Real-time holdings, vesting, conversions — one view, on-chain validation |
| Institutions | Broker-dealers, custodians, and investment banks settle on a shared compliance layer |
Regulatory Clarity
SEC (Jan 2026) confirmed equity tokens in official registers represent true ownership. Delaware and Swiss law already support blockchain ledgers. EU-INC in the works.
Scaling & Privacy
New cryptographic protocols enable on-chain confidentiality without sacrificing compliance. Transaction costs are close to negligible.
Market Demand
Crypto-native founders increasingly want on-chain equity. BlackRock's $2B+ BUIDL fund validates institutional appetite for tokenized assets. Institutions are exploring the blockchain world and the benefits of the technology.
Secondary Market Growth
$226B in private secondary volume in 2025, growing ~40% YoY, heading to $400B by 2030. The demand for private securities infrastructure is accelerating independently of crypto.
Try it now — no real funds at risk.