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

JUNW

In diligence
IN MOTIONTransfer agency

Juniper House

Skip it and you read a PDF. Counterparties who matter will have already called.

Pilots are named and redacted. The waitlist is not. a short list people already asked.

Juniper House — 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.

In a 14-day diligence sprint (day 10). This is when the story, the customers and the legal path get written down — or the file stops.

The named customer already picked. The waitlist is everyone who was late to that fact.

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

Sprint day

0/14

Window

Closed

Heat

0/99

Inbound / wk

0asks

Asking now

0live

Named pilots

0

Redacted on the public page

Live nodes

0

TA adapters

Counsel hours

0

Not offering — locked

Sentences killed

0

Before listing

Claims live

5/8

Sprint

Our cut

0%

Of any proceeds

Plate Vault · 4150

JUNW

The plate

Vault. Edition 4150.

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

JUNW · Geneva · Transfer agency

Score

0

Desk diligence

Pilots

0

Named, redacted

Sprint

0

Day 10 of 14

HQ

Geneva

Fund administrators

Sells

Fund

Fund seat

Markets

0

Geneva

Years

0

Founded 2021

Surfaces

0

TA adapters

Complete

0

File readiness

The wedge

Fund seat

Revocation is the product. Anyone can issue; almost no one can take it back.

Why the desk took it

A real job, not a ticker.

No utility token in the revenue model. We checked.

Traction

2 named pilots (redacted).

Founded 2021, headquartered in Geneva. 2 named pilots on file (identities redacted in public). 7 nodes or connected surfaces reported. Desk diligence score 79/100. Sprint day 10 of 14. A national registry counterpart, not a scrape. They killed their own ‘token as fee’ sentence before we asked. Rare, and it scored.

Next 12 months

Three funds onboarding on the graph, not a demo.

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.

Before the waitlist, before the window, there was a refusal. Juniper House would not let a public sale sit on this page. That is why a company in Transfer agency is listed here at all — and why the people who wanted a coin left, and the people who wanted the product stayed.

The bet is narrow. A named Geneva buyer already has budget for this invoice. Juniper House 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.

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

From ops

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 the founder

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.

The incumbent will still be slow in a year. The window will not.

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

The scarce thing is not the company. It is the next a few days of a live conversation.

Window

Closed

Closed. History only — not a place to buy.

Sentences killed
13
Counsel hours on file
44
Asks / week
31
Our cut
0% of proceeds

Our TAM is an invoice the customer already pays. A coin would not make it larger. It would make the licence harder.

Aisha Shah, Chief executive

This company

Juniper House

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.

Revocation is the product. Anyone can issue; almost no one can take it back.

Revocation is the product. Anyone can issue; almost no one can take it back.

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

The incumbent brand sells the relationship. Juniper House sells the job the brand will not staff. A protocol pitch is the thing this company has already refused. Open-source looks free until the auditor asks who attests.

The live path is Not offering — locked. 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. 06The legal source of truth stays with the incumbent register, admin, or custodian.

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.

  • Second market

    40%

    The remaining certifications and the second named market.

  • Named operators

    23%

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

  • Counsel & perimeter

    21%

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

  • Control environment

    16%

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

Operating week

What “in market” actually looks like.

  1. WedCounselPerimeter diffs. If the site drifted from the memo, the site moves — not the memo.
  2. SatDarkNo creators. No threads. Restricted geos stay dark.
  3. FriKill switchRehearse unpublish in 24 hours. If it takes a committee, it is not a switch.
  4. 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 national registry counterpart, not a scrape.
Unit economics
Per-event pricing so a pilot can start without a transformation programme.
Moat on file
Revoke has been tested against a live register.
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
No utility token in the revenue model. We checked.

Next twelve months

What has to be true.

Three funds onboarding on the graph, not a demo.

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

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

Traction

What you can verify today.

Founded 2021, headquartered in Geneva. 2 named pilots on file (identities redacted in public). 7 nodes or connected surfaces reported. Desk diligence score 79/100. Sprint day 10 of 14. A national registry counterpart, not a scrape. They killed their own ‘token as fee’ sentence before we asked. Rare, and it scored.

  • Operating notes for TA adapters
  • No token contract listed as a public sale
  • Pilot letters on file, identities redacted
  • Geneva 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.”

  • Product64
  • Customers62
  • Legal path62
  • Tech maturity57
  • Demand58
  • Market access68

Risks

What can kill it.

The one that actually kills it

Counsel is a slide

Unnamed counsel is how companies die in diligence. Not offering — locked has to be a memo you can file, not a slogan on the hero.

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 Juniper House 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, Juniper House is a services shop with a ledger. Ask for the second.

Ask these next

  1. 01Who is the first named paying customer — not a letter of intent?
  2. 02What does renewal look like if no round ever happens?
  3. 03Which incumbent can copy this in a quarter, and what would they have to migrate?
  4. 04Has counsel written the perimeter in a memo you can file?
  5. 05What happens if a founder later wants a public token?
  6. 06If RCA Pad disappeared tomorrow, could the customer still run the job?

Structure

How money would actually move.

Sprint is diligence, not a raise. A pack at the end is a file the company can take to its own lawyers and investors. RCA Pad does not complete funding.

Entity
Juniper House Ltd
Path on file
Not offering — locked
Posture
No public sale
Pack
Sprint

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.

  • Genevanamed
  • United Kingdomnamed
  • United States retailrestricted
  • United Statesrestricted

Team

Who runs it.

  • Aisha ShahChief executive

Stack

  • TA adapters
  • Transfer agency
  • Takedown SLA

Named with them

  • Northbridge Counsel
  • Helix Audit
  • Clearline

Who can decide

Aisha Shah (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.

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

Claims with evidence

Statements with evidence.

StatementEvidenceStatus
Juniper House does not sell a token to the public on this padPosture locklive
The product is transfer agency sold to institutionsArchitecture + customer typelive
TA adapters 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
Production date for the chain layer is not committedDesk filedraft
No public token is sold on this padEngagement terms + posture locklive
Customers contemplated: Geneva, United KingdomNamed markets on the filelive

On the record

  1. Day 0 lockKick-offSep
  2. Claim inventoryPackSep
  3. Audience matrix draftPackSep

Operating log

  1. 11 Sep 17:20

    Workshop. Funnel has no purchase step.

  2. 08 Sep 09:00

    Kick-off. Exclusions recorded.

  3. 09 Sep 16:20

    A claim killed for missing evidence.

Path to now

  1. D0

    Kick-off

    Geographies, owners, SLA, exclusions.

  2. D14

    Read-out

    Accept the pack or stop.

Not a subscription

This is not a sale page.

Sprint is diligence, not a raise. A pack at the end is a file the company can take to its own lawyers and investors. RCA Pad does not complete funding. 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.