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

CED7

In market

IN MARKETAttestations

Cedar Post

If you read one Attestations company this quarter, make it this one.

A dual-control drill is on paper. A named licensed party holds the liability. That is rarer than a waitlist.

Cedar Post — 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. 3,529 on the product waitlist — that is demand, not an allocation.

They unpublish in an hour. They will not wait for your committee to finish reading.

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

Closed

Heat

0/99

Inbound / wk

0asks

Asking now

0live

Named pilots

Redacted on the public page

Live nodes

W3C attestations

Counsel hours

Canada · counsel-named

Sentences killed

Before listing

Claims live

9/12

Growth

Our cut

Of any proceeds

Plate Lattice · 4178

CED7

The plate

Lattice. Edition 4178.

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

CED7 · Toronto · Attestations

Score

Desk diligence

Pilots

Named, redacted

Waitlist

Product demand

Toronto

Fund administrators

Sells

Fund

Fund seat

Markets

Canada

Years

Founded 2024

Surfaces

W3C attestations

Complete

File readiness

The wedge

Fund seat

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

Why the desk took it

A real job, not a ticker.

No utility token in the revenue model. We checked.

Traction

3 named pilots (redacted).

Founded 2024, headquartered in Toronto. 3 named pilots on file (identities redacted in public). 3,529 on the waitlist, gated — product demand, not a book built. 14 nodes or connected surfaces reported. Desk diligence score 84/100. A transfer agent willing to consume a revoke in production. A dual-control drill exists on paper. We have not watched it live yet — that is the next ask.

Next 12 months

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

A ‘passport token’ is usually a security in costume. Annual software against an ops cost the board can see. Switching cost is the record, not the brand.

The brief

How a serious reader should hold this.

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

The bet is narrow. A named Toronto buyer already has budget for this invoice. Cedar Post wins if it is cheaper than the internal build and cleaner than the protocol pitch. It loses if a founder later wants a public book. The window is the time you have to decide which it is.

The auditor of a redacted pilot has seen a dual-record. Switching away now means a new auditor conversation. That is the switching cost — not the logo.

From counsel

We will not describe this as Reg CA-compliant, MiCA-stickered, or FCA-authorised. Issuers retain their own counsel in every relevant jurisdiction.

From the founder

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

From ops

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.

The decline pile in Attestations is full of companies that looked the same on slide one. This one is listed.

A supervisor is already forcing a perimeter. Houses that pick software over a coin will buy this now.

Read it once, properly, while the number is still green. Then decide.

Window

Closed

Closed. History only — not a place to buy.

Sentences killed: 10
Counsel hours on file: 25
Asks / week: 441
Our cut: 0% of proceeds

US came off the site in the first session. We did not argue. We are not children.
Zara Khan, Chief executive

This company

Cedar Post

The copycats will arrive after certification. That is why the window is now.

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.

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

A generalist vendor can copy the slide in a quarter. They cannot copy the named record, the scheme map, or the auditor conversation. That is the year they would have to buy.

Named: Canada, United Kingdom. Off-limits: Global public. A US person hearing an offering communication is a US problem even if the company sits in Toronto. Blocking an IP and taking a US Telegram admin is not a block.

How it works

01A fact is attested by a party the recipient already trusts
02The holder discloses only the field requested
03The rest of the file stays dark
04Revocation is a first-class event
05The recipient never sees the rest of the file — selective disclosure is enforced, not promised
06A named counterparty verifies; Cedar Post 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.

Counsel & perimeter
34%
The remaining certifications and the second named market.
Named operators
25%
A counsel memo that can survive a later reader.
Certifications & adapters
19%
Adapter work against the incumbent register, admin, or custodian.
Second market
22%
Hiring the operator who already does this job at a licensed firm.

Operating week

What “in market” actually looks like.

ThuCustomerNamed pilot (redacted) sees the same record the auditor saw.
SatDarkNo creators. No threads. Restricted geos stay dark.
FriKill switchRehearse unpublish in 24 hours. If it takes a committee, it is not a switch.
MonClaimsEvery public sentence checked against the register. Anything extra is unpublished.

The wedge

Why this one, not the other one.

They sell: Fund seat
Who pays: A transfer agent willing to consume a revoke in production.
Unit economics: Annual software against an ops cost the board can see. Switching cost is the record, not the brand.
Moat on file: A transfer agent has agreed to consume the attestation in production.
Switching cost: Once the record is the record, the incumbent copy has to migrate history. That is the year.
Vs the comps: A ‘passport token’ is usually a security in costume.
Why we listed it: No utility token in the revenue model. We checked.

Next twelve months

What has to be true.

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

A dual-control drill exists on paper. We have not watched it live yet — that is the next ask.

They have not asked us to run a sale. That ask would close the file.

Traction

What you can verify today.

Operating notes for W3C attestations
No token contract listed as a public sale
Pilot letters on file, identities redacted
Toronto 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
Demand58
Market access68

Risks

What can kill it.

The one that actually kills it

The founder wants a public book

The moment Cedar Post asks this pad to allocate, sell, or complete funding, the listing ends. That is not a moral project. It is how a services firm stays a services firm.

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

Token relapse

A later round that wants a public token puts Cedar Post in a different perimeter. The file treats that as a hard stop.

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?
03Has counsel written the perimeter in a memo you can file?
04Where do keys, title, or NAV liability sit — and is that person licensed?
05Which incumbent can copy this in a quarter, and what would they have to migrate?
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: Cedar Post Inc. · Ontario
Path on file: Canada · 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.

Canadanamed
United Kingdomnamed
Global publicrestricted

Team

Who runs it.

Zara KhanChief executive
Jonah BergChief executive

Stack

W3C attestations
Attestations
Audit log
Disclosure templates

Named with them

Northbridge Counsel
Helix Audit
Meridian Tax

Who can decide

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

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.

Statement	Evidence	Status
Cedar Post does not sell a token to the public on this pad	Posture lock	live
The product is attestations sold to institutions	Architecture + customer type	live
W3C attestations 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
Pilot identities redacted in public	No board minute	draft
No public token is sold on this pad	Engagement terms + posture lock	live
Customers contemplated: Canada, United Kingdom	Named markets on the file	live

On the record

Sprint packPackJun
Counsel lockPathJul
Claims register liveRegisterAug
Creator briefBriefSep

Operating log

11 Sep 09:39
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.