RCA Pad
VELMVellum Protocol8,420 waitlistKITEKite Ledger2,190 waitlistPLSDPalisade ID1,640 waitlistNRTLNorthlineDay 8 of 14SABLSable RailDay 5 of 14QULLQuill MarketsDay 11 of 14CDWLCinder Well6,947 waitlistHRTNHartline8,787 waitlistOBSNObsidian Rail4,416 waitlistFENLFen Clearing1,060 waitlistLUMNLumen Books5,510 waitlistRDCTRedact ID6,485 waitlistHRBNHarbor NAV6,973 waitlistQLTDQuilt1,876 waitlistNMBMNimbus Match7,864 waitlistBRASBrass4,166 waitlistSLSTSolstice Credit9,342 waitlistWLTRWillow Transfer7,031 waitlistEMBREmber Registry2,487 waitlistNQAYNorth Quay2,013 waitlistKLNSKiln4,412 waitlistGLSHGlass HouseDay 8 of 14IRNPIron PierDay 1 of 14PLFRPale FireDay 3 of 14VELMVellum Protocol8,420 waitlistKITEKite Ledger2,190 waitlistPLSDPalisade ID1,640 waitlistNRTLNorthlineDay 8 of 14SABLSable RailDay 5 of 14QULLQuill MarketsDay 11 of 14CDWLCinder Well6,947 waitlistHRTNHartline8,787 waitlistOBSNObsidian Rail4,416 waitlistFENLFen Clearing1,060 waitlistLUMNLumen Books5,510 waitlistRDCTRedact ID6,485 waitlistHRBNHarbor NAV6,973 waitlistQLTDQuilt1,876 waitlistNMBMNimbus Match7,864 waitlistBRASBrass4,166 waitlistSLSTSolstice Credit9,342 waitlistWLTRWillow Transfer7,031 waitlistEMBREmber Registry2,487 waitlistNQAYNorth Quay2,013 waitlistKLNSKiln4,412 waitlistGLSHGlass HouseDay 8 of 14IRNPIron PierDay 1 of 14PLFRPale FireDay 3 of 14
Board

BRAS

In market
HOT WINDOWAttestations

Brass

Certification is in motion. After it lands, access is the scarce thing — not price.

Dublin is not a backdrop. It is the city where the customer can be called on a recorded line.

Brass — An attestation graph: a fund or investor proves one fact (accredited, name, share-class) to a transfer agent or administrator without handing over the whole file. Selective disclosure is the product.

Live campaign. 4,166 on the product waitlist — that is demand, not an allocation.

Heat 92 of 99. Hot windows do not stay hot. They close.

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

0

Window

0days

Heat

0/99

Inbound / wk

0asks

Asking now

0live

Named pilots

0

Redacted on the public page

Live nodes

0

W3C attestations

Counsel hours

0

Ireland · counsel-named

Sentences killed

0

Before listing

Claims live

9/10

Growth

Our cut

0%

Of any proceeds

Plate Orbit · 2233

BRAS

The plate

Orbit. Edition 2233.

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

BRAS · Dublin · Attestations

Score

0

Desk diligence

Pilots

0

Named, redacted

Waitlist

0

Product demand

HQ

Dublin

Fund administrators

Sells

Per-onboarding

Per-onboarding event

Markets

0

Ireland

Years

0

Founded 2022

Surfaces

0

W3C attestations

Complete

0

File readiness

The wedge

Per-onboarding event

The wedge is repeating KYC at every gate of the same allocator.

Why the desk took it

A real job, not a ticker.

US retail identity was taken off before we asked.

Traction

3 named pilots (redacted).

Founded 2022, headquartered in Dublin. 3 named pilots on file (identities redacted in public). 4,166 on the waitlist, gated — product demand, not a book built. 14 nodes or connected surfaces reported. Desk diligence score 92/100. A transfer agent willing to consume a revoke in production. They killed their own ‘token as fee’ sentence before we asked. Rare, and it scored.

Next 12 months

Liability sentence in writing: who is wrong when a fact is wrong.

Jumio does not speak share-class. Per-event pricing so a pilot can start without a transformation programme.

The brief

How a serious reader should hold this.

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

Read this as an operating company, not a round. Counsel has a posture: Ireland · counsel-named. Restricted markets stay dark. RCA Pad takes 0% if they ever raise. That combination is why inbound did not need a ticker.

A sentence went public and came down in under an hour. Hiro Nair treated the kill as an operating skill, not a PR event. Files that cannot do this do not stay listed.

From the founder

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

From the screen

Fixed fee. Deposit to start. 0% of proceeds. Token-only pay is declined. Percentage of raise is declined.

From ops

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

The window

Miss this and you read the archive.

Miss 7 days and you are explaining to your IC why you read it after it closed.

Restricted markets stay dark. Named markets are live. That discipline is the scarce thing.

Open the diligence or watch it close. There is not a third option that still counts as early.

Window remaining

0days

When this window closes, the campaign is archive.

Sentences killed
10
Counsel hours on file
78
Asks / week
521
Our cut
0% of proceeds

The waitlist is people who want the product. If they wanted a coin they would be on a different pad.

Hiro Nair, Chief executive

This company

Brass

A L2 wrapper is cheaper. It is also a different perimeter — and declined here.

In the same conversation

  • Onfido / Jumio for people
  • Fund-admin KYC teams
  • W3C attestations
  • Not a ‘passport token’

The bet

Why this company exists.

The wedge is repeating KYC at every gate of the same allocator.

The wedge is repeating KYC at every gate of the same allocator.

Transfer agents and AIFMs are being asked for faster onboarding without becoming identity companies. Attestations they can revoke are the compromise.

Fund onboarding cost is a known line item. A 20–40% cut in cycle time is a budget, not a vision deck.

Versus the field

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

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

How it works

  1. 01A fact is attested by a party the recipient already trusts
  2. 02The holder discloses only the field requested
  3. 03The rest of the file stays dark
  4. 04Revocation is a first-class event
  5. 05The recipient never sees the rest of the file — selective disclosure is enforced, not promised
  6. 06A named counterparty verifies; Brass does not attest to its own facts.

In the same conversation as

  • Onfido / Jumio for people
  • Fund-admin KYC teams
  • W3C attestations
  • Not a ‘passport token’

If they raise

Where the money would actually go.

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

  • Control environment

    38%

    Keeping the public story from running ahead of the claims register.

  • Named operators

    26%

    The remaining certifications and the second named market.

  • Claims & campaign ops

    19%

    Dual-control drills, key ceremonies, and the person who owns them.

  • Certifications & adapters

    17%

    Adapter work against the incumbent register, admin, or custodian.

Operating week

What “in market” actually looks like.

  1. TueExceptionsOvernight breaks post back into the customer’s case system. No side book.
  2. FriKill switchRehearse unpublish in 24 hours. If it takes a committee, it is not a switch.
  3. MonClaimsEvery public sentence checked against the register. Anything extra is unpublished.
  4. WedCounselPerimeter diffs. If the site drifted from the memo, the site moves — not the memo.

The wedge

Why this one, not the other one.

They sell
Per-onboarding event
Who pays
A transfer agent willing to consume a revoke in production.
Unit economics
Per-event pricing so a pilot can start without a transformation programme.
Moat on file
The attester is a party the recipient already trusts — not Brass.
Switching cost
Network effects only if a second named counterparty writes. One customer is a service firm.
Vs the comps
Jumio does not speak share-class.
Why we listed it
US retail identity was taken off before we asked.

Next twelve months

What has to be true.

Liability sentence in writing: who is wrong when a fact is wrong.

They killed their own ‘token as fee’ sentence before we asked. Rare, and it scored.

Growth money would extend the record to a second geography, still permissioned.

Traction

What you can verify today.

Founded 2022, headquartered in Dublin. 3 named pilots on file (identities redacted in public). 4,166 on the waitlist, gated — product demand, not a book built. 14 nodes or connected surfaces reported. Desk diligence score 92/100. A transfer agent willing to consume a revoke in production. They killed their own ‘token as fee’ sentence before we asked. Rare, and it scored.

  • Operating notes for W3C attestations
  • No token contract listed as a public sale
  • Pilot letters on file, identities redacted
  • Dublin 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.”

  • Product70
  • Customers96
  • Legal path84
  • Tech maturity88
  • Demand61
  • Market access90

Risks

What can kill it.

The one that actually kills it

The unit of account becomes a token

Seat plus event. If they attach a token as the unit of account, this company is a different company — and not one we will operate a campaign for.

Who attests

If the attester is the company itself, this is a database with extra steps.

Portability theatre

A graph nobody else reads is a PDF with a hash.

US

US retail identity products are a different statute. Many of these files keep the US off.

Utility token

Paying for attestations in a native token is usually a securities problem in costume.

Self-attestation

If Brass is the attester, this is a database with extra steps. The graph only matters if someone else signs.

Single-customer gravity

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

Ask these next

  1. 01Who can unpublish a public sentence in 24 hours, by name?
  2. 02Who is the first named paying customer — not a letter of intent?
  3. 03Is the waitlist demand for a product, or a queue for a coin?
  4. 04What happens if a founder later wants a public token?
  5. 05Which geography is actually locked, and which is a hope?
  6. 06Which incumbent can copy this in a quarter, and what would they have to migrate?

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
Brass DAC
Path on file
Ireland · counsel-named
Posture
No public sale
Pack
Growth

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.

  • Irelandnamed
  • EEA professionalnamed
  • United Kingdomnamed
  • United States retailrestricted
  • United Statesrestricted

Team

Who runs it.

  • Hiro NairChief executive
  • Hannah SantosChief technology

Stack

  • W3C attestations
  • Attestations
  • Disclosure templates

Named with them

  • Northbridge Counsel
  • Helix Audit
  • Clearline

Who can decide

Hiro Nair (Chief executive) will take a 30-minute call and decide budget. If the only person who can accept “we are not opening a sale” is a silent co-founder in another time zone, this company would not be on the board.

Year two is a second named market and the remaining certifications — still permissioned. It is not a public book. A public book would be a different company.

Claims with evidence

Statements with evidence.

StatementEvidenceStatus
Brass does not sell a token to the public on this padPosture locklive
The product is attestations sold to institutionsArchitecture + customer typelive
W3C attestations is the method — not a listed assetDesk snapshotlive
Retail buyers are out of scopeNamed markets locklive
Any raise completes with the issuer’s counsel and providers — not on RCA PadFixed-fee termslive
Pilot identities redacted in publicNo board minutedraft
No public token is sold on this padEngagement terms + posture locklive
Customers contemplated: Ireland, EEA professional, United KingdomNamed markets on the filelive

On the record

  1. Sprint packPackJun
  2. Counsel lockPathJul
  3. Claims register liveRegisterAug
  4. Creator briefBriefSep

Operating log

  1. 11 Sep 09:34

    Takedown SLA idle-tested.

  2. 08 Sep 11:40

    A claim held for missing evidence.

  3. 04 Sep 08:22

    Weekly report issued to the desk.

  4. 01 Sep 14:08

    Creator set on disclosure. No buy language.

Path to now

  1. Sprint

    Pack accepted

    Narrative, matrix, claims locked.

  2. Path

    Counsel names it

    Or the file stays not-offering.

  3. 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

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