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

IROS

In market

IN MARKETPermissioned interop

Iron Vault

4,517 already asked. The window is a few days. After that, archive.

The first buyer already has a vendor. Iron Vault is taking that invoice. The queue is 4,517 deep.

Iron Vault — Attestation packets and IBC-style messages between chains that are not public. Banks and funds that already live behind a firewall use this to talk to each other without opening a public bridge.

Live campaign. 4,517 on the product waitlist — that is demand, not an allocation.

If you needed a reason to open diligence tonight: 4,517 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

Closed

Heat

0/99

Inbound / wk

0asks

Asking now

0live

Named pilots

Redacted on the public page

Live nodes

Cosmos SDK · permissioned

Counsel hours

Auckland · counsel-named

Sentences killed

Before listing

Claims live

4/8

Growth

Our cut

Of any proceeds

Plate Orbit · 1645

IROS

The plate

Orbit. Edition 1645.

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

IROS · Auckland · Permissioned interop

Score

Desk diligence

Pilots

Named, redacted

Waitlist

Product demand

Auckland

Banks

Sells

Per

Per packet

Markets

Auckland

Years

Founded 2022

Surfaces

Cosmos SDK · permissioned

Complete

File readiness

The wedge

Per packet

The wedge is island chains: every extra permissioned deployment is an integration budget.

Why the desk took it

A real job, not a ticker.

Security review of the verifier is on file, even if draft.

Traction

3 named pilots (redacted).

Founded 2022, headquartered in Auckland. 3 named pilots on file (identities redacted in public). 4,517 on the waitlist, gated — product demand, not a book built. 21 nodes or connected surfaces reported. Desk diligence score 84/100. A national registry counterpart, not a scrape. Counsel is named, even if the memo is still a draft. Unnamed counsel is how files die.

Next 12 months

A verifier a third party has actually run.

Public IBC is a different threat model. They sell a fee the customer already pays a slower vendor for. TAM is that invoice, not a token float.

The brief

How a serious reader should hold this.

Auckland is not a backdrop. It is the jurisdiction where a named customer can be sued, called, and asked a question on a recorded line. Iron Vault chose it for that reason. Counterparties who still think this is a ‘global’ story are already late.

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

On a Tuesday in Auckland, an exception posts back into the customer’s existing case system. Nobody opens a side spreadsheet. That is the product: the night someone in ops does not stay late.

From ops

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

From counsel

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

From the pilot

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

The window

Miss this and you read the archive.

You can read twelve thinner companies. Or this one, once, while the window is open.

Switching cost is the auditor conversation. Once it happens, you are late.

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

Window

Closed

Closed. History only — not a place to buy.

Sentences killed: 16
Counsel hours on file: 18
Asks / week: 565
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.
Oskar Okoye, Chief executive

This company

Iron Vault

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

In the same conversation

R3 Corda network maps
Hyperledger interop
Public IBC (different threat model)

The bet

Why this company exists.

The wedge is island chains: every extra permissioned deployment is an integration budget.

Every permissioned chain is an island. The second chain a bank turns on creates the ticket. The third creates the vendor.

Every extra permissioned deployment is a new integration budget. This product is that budget.

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.

Auckland being the city does not make local retail a default audience. Communications capable of inducing investment activity still have a promotions problem.

How it works

01A fact is packed as an attestation, not a free-floating asset
02The counterparty chain verifies the packet
03Assets do not ‘bridge’; messages do
04Public connectivity is off unless counsel names it
05The counterparty chain verifies the packet; assets do not ‘bridge’
06A named counterparty verifies; Iron Vault does not attest to its own facts.

In the same conversation as

R3 Corda network maps
Hyperledger interop
Public IBC (different threat model)

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
28%
Dual-control drills, key ceremonies, and the person who owns them.
Claims & campaign ops
24%
Hiring the operator who already does this job at a licensed firm.
Certifications & adapters
17%
Keeping the public story from running ahead of the claims register.
Counsel & perimeter
31%
A counsel memo that can survive a later reader.

Operating week

What “in market” actually looks like.

TueExceptionsOvernight breaks post back into the customer’s case system. No side book.
SatDarkNo creators. No threads. Restricted geos stay dark.
ThuCustomerNamed pilot (redacted) sees the same record the auditor saw.
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 packet
Who pays: A national registry counterpart, not a scrape.
Unit economics: They sell a fee the customer already pays a slower vendor for. TAM is that invoice, not a token float.
Moat on file: Two live counterparties, not a testnet talking to itself.
Switching cost: Once the record is the record, the incumbent copy has to migrate history. That is the year.
Vs the comps: Public IBC is a different threat model.
Why we listed it: Security review of the verifier is on file, even if draft.

Next twelve months

What has to be true.

A verifier a third party has actually run.

Counsel is named, even if the memo is still a draft. Unnamed counsel is how files die.

A round, if any, sits with their providers. This pad does not take the order.

Traction

What you can verify today.

Operating notes for Cosmos SDK · permissioned
No token contract listed as a public sale
Pilot letters on file, identities redacted
Auckland 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.”

Product79
Customers96
Legal path84
Tech maturity94
Demand63
Market access44

Risks

What can kill it.

The one that actually kills it

The founder wants a public book

The moment Iron Vault 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.

Bridge in costume

If value moves as a wrapped asset, this is a bridge. Bridges have a history.

Who verifies

A packet nobody independently checks is email.

Public leak

One public endpoint and the threat model is gone.

Standard war

If a bigger FMI publishes the same packet, this is a feature, not a company.

Bridge in costume

If value moves as a wrapped asset, Iron Vault inherits every bridge post-mortem. Kill that design.

Token relapse

A later round that wants a public token puts Iron Vault 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?
02Which incumbent can copy this in a quarter, and what would they have to migrate?
03Who can unpublish a public sentence in 24 hours, by name?
04Where do keys, title, or NAV liability sit — and is that person licensed?
05Is the waitlist demand for a product, or a queue for a coin?
06What does renewal look like if no round ever happens?

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: Iron Vault Ltd
Path on file: Auckland · 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.

Aucklandnamed
Mainland China retailrestricted
United Statesrestricted

Team

Who runs it.

Oskar OkoyeChief executive
Ines MbekiMarkets

Stack

Cosmos SDK · permissioned
Permissioned interop
Takedown SLA
Audit log

Named with them

Helix Audit
Meridian Tax

Who can decide

Oskar Okoye came in named. The team is not a handle. Iron Vault Ltd exists, founded 2022, headquartered in Auckland. Anonymity would have been an automatic decline.

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

Claims with evidence

Statements with evidence.

Statement	Evidence	Status
Iron Vault does not sell a token to the public on this pad	Posture lock	live
The product is permissioned interop sold to institutions	Architecture + customer type	live
Cosmos SDK · permissioned 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: Auckland	Named markets on the file	live

On the record

Sprint packPackJun
Counsel lockPathJul
Claims register liveRegisterAug
Creator briefBriefSep

Operating log

11 Sep 09:14
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

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