VELMVellum Protocol8,420 waitlist KITEKite Ledger2,190 waitlist PLSDPalisade ID1,640 waitlist NRTLNorthlineDay 8 of 14 SABLSable RailDay 5 of 14 QULLQuill MarketsDay 11 of 14 CDWLCinder Well6,947 waitlist HRTNHartline8,787 waitlist OBSNObsidian Rail4,416 waitlist FENLFen Clearing1,060 waitlist LUMNLumen Books5,510 waitlist RDCTRedact ID6,485 waitlist HRBNHarbor NAV6,973 waitlist QLTDQuilt1,876 waitlist NMBMNimbus Match7,864 waitlist BRASBrass4,166 waitlist SLSTSolstice Credit9,342 waitlist WLTRWillow Transfer7,031 waitlist EMBREmber Registry2,487 waitlist NQAYNorth Quay2,013 waitlist KLNSKiln4,412 waitlist GLSHGlass HouseDay 8 of 14 IRNPIron PierDay 1 of 14 PLFRPale FireDay 3 of 14 VELMVellum Protocol8,420 waitlist KITEKite Ledger2,190 waitlist PLSDPalisade ID1,640 waitlist NRTLNorthlineDay 8 of 14 SABLSable RailDay 5 of 14 QULLQuill MarketsDay 11 of 14 CDWLCinder Well6,947 waitlist HRTNHartline8,787 waitlist OBSNObsidian Rail4,416 waitlist FENLFen Clearing1,060 waitlist LUMNLumen Books5,510 waitlist RDCTRedact ID6,485 waitlist HRBNHarbor NAV6,973 waitlist QLTDQuilt1,876 waitlist NMBMNimbus Match7,864 waitlist BRASBrass4,166 waitlist SLSTSolstice Credit9,342 waitlist WLTRWillow Transfer7,031 waitlist EMBREmber Registry2,487 waitlist NQAYNorth Quay2,013 waitlist KLNSKiln4,412 waitlist GLSHGlass HouseDay 8 of 14 IRNPIron PierDay 1 of 14 PLFRPale FireDay 3 of 14

BRA6

In market

IN MARKETTrade finance

Bramble Ward

Heat 65. 82 asks this week. 0% of any raise comes here.

Claire Reilly will not run a public sale on this pad. The listing exists because of that sentence.

Bramble Ward — A permissioned record of title, invoices, warehouse receipts or port documents for houses that already finance or move goods. The event is the product. The bill of lading does not get replaced by a meme.

Live campaign. 2,627 on the product waitlist — that is demand, not an allocation.

If you needed a reason to open diligence tonight: 2,627 other people already did.

Diligence, not a prospectus. RCA Pad does not allocate, take orders, or close funding. If this company raises, it raises with its own counsel.

Waitlist

Window

0days

Heat

0/99

Inbound / wk

0asks

Asking now

0live

Named pilots

Redacted on the public page

Live nodes

Permissioned L2

Counsel hours

Switzerland · counsel-named

Sentences killed

Before listing

Claims live

5/9

Build

Our cut

Of any proceeds

Plate Meridian · 7663

BRA6

The plate

Meridian. Edition 7663.

A unique plate for Bramble Ward. Geometry, orbit, and edition belong to this company — no other listing on the board shares it.

BRA6 · Zurich · Trade finance

Score

Desk diligence

Pilots

Named, redacted

Waitlist

Product demand

Zurich

Trade-finance banks

Sells

Per

Per title event

Markets

Switzerland

Years

Founded 2022

Surfaces

Permissioned L2

Complete

File readiness

The wedge

Per title event

Bramble Ward digitises a hold, not a commodity.

Why the desk took it

A real job, not a ticker.

They brought a redacted bill, not a tokenised barrel.

Traction

2 named pilots (redacted).

Founded 2022, headquartered in Zurich. 2 named pilots on file (identities redacted in public). 2,627 on the waitlist, gated — product demand, not a book built. 7 nodes or connected surfaces reported. Desk diligence score 94/100. An AIFM whose auditor has seen the dual-record. A redacted engagement letter landed in week one. That is why the desk took the meeting.

Next 12 months

Which law governs title — written, not assumed.

Contour tried a network. This is an event on cargo that already moves. Bps on a job that already has a budget line. A public coin would not make the invoice larger.

The brief

How a serious reader should hold this.

Someone in Zurich already renewed a slower vendor this year. Bramble Ward is the conversation that happens before they do it again. Miss this cycle and you explain the next one.

If you leave this page without opening the claims table, you have read marketing. The scarce version of Bramble Ward is the version that survives counsel. It is on a clock.

US traffic was taken off the public surfaces in the first working session. Bramble Ward did not argue. Adult companies do not costume a US offering.

From the founder

A dual-control drill exists on paper. Production evidence is the next artefact, not a tweet.

From counsel

The legal source of truth stays with the incumbent register, admin, or custodian. Bramble Ward does not attest to its own facts.

From the screen

This communication is not an offer. Participation mechanics do not exist on this pad. If a later reader treats the public stack as the offer, the stack was already wrong.

The window

Miss this and you read the archive.

When the heat drops, the named customer is still named — they just stop taking new calls.

Certification is in motion. After it lands, the price of the seat is not the question — access is.

We do not allocate. We do not take a cut. We will not hold the window open for you.

Window remaining

0days

When this window closes, the campaign is archive.

Sentences killed: 3
Counsel hours on file: 90
Asks / week: 328
Our cut: 0% of proceeds

Kill the public sentence in an hour or do not list us. We can do the hour.
Claire Reilly, Chief executive

This company

Bramble Ward

Open-source looks free until the auditor asks who attests. Bramble Ward has an answer.

In the same conversation

Contour / we.trade (history)
CargoX
Bank trade portals
Not a commodity NFT

The bet

Why this company exists.

Bramble Ward digitises a hold, not a commodity.

Banks want to digitise without putting a commodity on a public chain. Warehouses will not be first movers. A permissioned title event they already recognise is the on-ramp.

Documentary trade is a trillion-scale flow. Software that shortens a hold by two days is a spread.

Versus the field

L2 wrappers are cheaper. They are also a different perimeter — and declined here. Bramble Ward is priced as software against an invoice that already exists.

The live path is Switzerland · counsel-named. Proposed Regulation Crypto Assets is not treated as a calendar slot. Build as if it never opens.

How it works

01A document that already exists is hashed and evented
02Title changes when the parties that already can change it say so
03Financiers see the state they are underwriting
04No public listing of the cargo as an asset
05Title changes only when the parties that already can change it say so
06The legal source of truth stays with the incumbent register, admin, or custodian.

In the same conversation as

Contour / we.trade (history)
CargoX
Bank trade portals
Not a commodity NFT

If they raise

Where the money would actually go.

Not a token float. A budget against work. RCA Pad still takes 0% of proceeds.

Counsel & perimeter
31%
Adapter work against the incumbent register, admin, or custodian.
Certifications & adapters
21%
Hiring the operator who already does this job at a licensed firm.
Claims & campaign ops
18%
The remaining certifications and the second named market.
Control environment
30%
Dual-control drills, key ceremonies, and the person who owns them.

Operating week

What “in market” actually looks like.

TueExceptionsOvernight breaks post back into the customer’s case system. No side book.
ThuCustomerNamed pilot (redacted) sees the same record the auditor saw.
WedCounselPerimeter diffs. If the site drifted from the memo, the site moves — not the memo.
FriKill switchRehearse unpublish in 24 hours. If it takes a committee, it is not a switch.

The wedge

Why this one, not the other one.

They sell: Per title event
Who pays: An AIFM whose auditor has seen the dual-record.
Unit economics: Bps on a job that already has a budget line. A public coin would not make the invoice larger.
Moat on file: Dual-control on title change — the fraud case is the feature.
Switching cost: Network effects only if a second named counterparty writes. One customer is a service firm.
Vs the comps: Contour tried a network. This is an event on cargo that already moves.
Why we listed it: They brought a redacted bill, not a tokenised barrel.

Next twelve months

What has to be true.

Which law governs title — written, not assumed.

A redacted engagement letter landed in week one. That is why the desk took the meeting.

If they raise, it is to hire the remaining certifications and the second market — not to float a coin.

Traction

What you can verify today.

Operating notes for Permissioned L2
No token contract listed as a public sale
Pilot letters on file, identities redacted
Zurich is the operating centre
The waitlist, if any, is a product list — not a book
RCA Pad does not take a cut of proceeds

Readiness

Six things a serious buyer asks. 100 is “ready to take to counsel and a customer.”

Product60
Customers78
Legal path84
Tech maturity67
Demand53
Market access68

Risks

What can kill it.

The one that actually kills it

The named customer is a letter of intent

Pilots that cannot be named, even redacted, are theatre. One paying seat that an auditor has seen is worth more than a waitlist of 2,627.

Legal title

If the court still wants the paper, the chain is a copy. Ask which jurisdiction has said otherwise.

Warehouse adoption

One bank is not a network. The warehouse has to write the event.

Public token

Tokenising the cargo for a crowd is a different, usually worse, company.

Fraud

Digitising a fake bill faster is not progress. Dual-control is the feature.

Paper still wins in court

If the court wants the original, the chain is a copy. Ask which jurisdiction has said otherwise.

Single-customer gravity

If the first named buyer is also the only buyer, Bramble Ward is a services shop with a ledger. Ask for the second.

Ask these next

01If RCA Pad disappeared tomorrow, could the customer still run the job?
02Who can unpublish a public sentence in 24 hours, by name?
03Who is the first named paying customer — not a letter of intent?
04Which incumbent can copy this in a quarter, and what would they have to migrate?
05What happens if a founder later wants a public token?
06Which geography is actually locked, and which is a hope?

Structure

How money would actually move.

If this company raises, it raises with its own counsel and providers. The waitlist is a product list. It is not a round, a book, or an allocation on RCA Pad. We do not take a cut.

Entity: Bramble Ward AG
Path on file: Switzerland · counsel-named
Posture: No public sale
Pack: Build

Where they can operate

Named vs off-limits.

Named markets are where a sentence is allowed. Restricted is where it is not. This is not a worldwide offering.

Switzerlandnamed
EEA professionalnamed
Mainland China retailrestricted

Team

Who runs it.

Claire ReillyChief executive

Stack

Permissioned L2
Trade finance
Audit log
Takedown SLA

Named with them

Meridian Tax

Who can decide

The technical founder is on the record as engineering. Contractors in undisclosed jurisdictions are written down as a fact, not hidden. Facts can be managed. Hiding them is how companies die in diligence.

If the first customer renews, the adapter work pays for itself. If they do not, Bramble Ward is a services firm with a slide. The twelve-month test is renewal, not waitlist.

Claims with evidence

Statements with evidence.

Statement	Evidence	Status
Bramble Ward does not sell a token to the public on this pad	Posture lock	live
The product is trade finance sold to institutions	Architecture + customer type	live
Permissioned L2 is the method — not a listed asset	Desk snapshot	live
Retail buyers are out of scope	Named markets lock	live
Any raise completes with the issuer’s counsel and providers — not on RCA Pad	Fixed-fee terms	live
Production date for the chain layer is not committed	No board minute	draft
No public token is sold on this pad	Engagement terms + posture lock	live
Customers contemplated: Switzerland, EEA professional	Named markets on the file	live

On the record

Sprint packPackJun
Counsel lockPathJul
Claims register liveRegisterAug
Creator briefBriefSep

Operating log

11 Sep 09:47
Takedown SLA idle-tested.
08 Sep 11:40
A claim held for missing evidence.
04 Sep 08:22
Weekly report issued to the desk.
01 Sep 14:08
Creator set on disclosure. No buy language.

Path to now

Sprint
Pack accepted
Narrative, matrix, claims locked.
Path
Counsel names it
Or the file stays not-offering.
Live
Campaign
Waitlist and register. No purchase journey.

Not a subscription

This is not a sale page.

If this company raises, it raises with its own counsel and providers. The waitlist is a product list. It is not a round, a book, or an allocation on RCA Pad. We do not take a cut. Founders who want a pack like this one apply. Readers who want the company talk to the company — not to this pad.

Launch your own How an RCAICO works

Other companies

VELMVellum ProtocolSettlement rails for private credit funds. Campaign live. No public token sale.KITEKite LedgerTrade-finance records on a permissioned L2. Live waitlist. Allocation is not on this pad.PLSDPalisade IDPermissioned identity for funds. Live in the EEA professional lane. No token, no sale.NRTLNorthlineOn-chain fund admin. Day 8 of 14. The pack is the product. Pathway locked: not offering.