The wedge
Per event
A crowd sale dressed as infrastructure is the thing this pad declines.
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
JUTJ
Screened
SCREENEDListing agent opsJute Gate
A named Leeds buyer is on the record. You are still reading the public page.
Heat 52. Window 2d. If you are going to read one Listing agent ops company, this is the one.
Jute Gate — Permissioned infrastructure sold to firms that already operate in this market. The chain is a method. The customer is an institution. A public token sale is not the business.
Screened, not yet in sprint. Treat every number as provisional. Calendar access is not automatic.
A year from now this will be an obvious company or a missed one. The window decides which.
Diligence, not a prospectus. RCA Pad does not allocate, take orders, or close funding. If this company raises, it raises with its own counsel.
Stage
upcoming
Window
0days
Heat
0/99
Inbound / wk
0asks
Asking now
0live
Named pilots
0
Redacted on the public page
Live nodes
0
Agent register
Counsel hours
0
Not offering — locked
Sentences killed
0
Before listing
Claims live
0/7
Sprint
Our cut
0%
Of any proceeds
Plate Horizon · 8543
JUTJ
The plate
Horizon. Edition 8543.
A unique plate for Jute Gate. Geometry, orbit, and edition belong to this company — no other listing on the board shares it.
JUTJ · Leeds · Listing agent ops
Score
0
Desk diligence
Pilots
0
Named, redacted
Stage
upcoming
upcoming
HQ
Leeds
Named institutional customers in a named geography
Sells
Per
Per event
Markets
0
Leeds
Years
0
Founded 2025
Surfaces
0
Agent register
Complete
0
File readiness
Why the desk took it
Early — still a question.
A named geography, not ‘global retail’.
Traction
One named pilot (redacted).
Founded 2025, headquartered in Leeds. One named pilot on file (redacted in public). 4 nodes or connected surfaces reported. Desk diligence score 79/100. A warehouse or port that has written a live event. No public APY, no public book, no ‘how to buy’ on any surface we could find.
Next 12 months
Still no public token as the business model.
Incumbent ops vendors are slow. Internal builds are slower. 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.
Before the waitlist, before the window, there was a refusal. Jute Gate would not let a public sale sit on this page. That is why a company in Listing agent ops is listed here at all — and why the people who wanted a coin left, and the people who wanted the product stayed.
Jute Gate exists because the incumbent brand will not staff the unglamorous middle of Listing agent ops. The product is that middle. The token, if it ever exists, is not the product — and is not for sale here. The people in the queue already understood the difference.
A dual-control drill sits on paper. Keys, title, or NAV liability sit with a named licensed party — not Jute Gate. The architecture says so. We have not watched the drill live. That is the next ask, not a slogan.
From the pilot
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.
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.
From counsel
A dual-control drill exists on paper. Production evidence is the next artefact, not a tweet.
The window
Miss this and you read the archive.
A later reader gets the same PDF. They do not get the same access.
0% of proceeds. Fixed fee. The incentive is a clean campaign — not a raise.
The scarce thing is not the company. It is the next 2 days of a live conversation.
Window remaining
0days
When this window closes, the campaign is archive.
- Sentences killed
- 16
- Counsel hours on file
- 12
- Asks / week
- 12
- Our cut
- 0% of proceeds
We would rather be archive-clean than live-loud. The waitlist showed up anyway.
This company
Jute Gate
Open-source looks free until the auditor asks who attests. Jute Gate has an answer.
In the same conversation
- Incumbent ops vendors
- Internal builds
- Public tokens (the thing to avoid)
The bet
Why this company exists.
A crowd sale dressed as infrastructure is the thing this pad declines.
A crowd sale dressed as infrastructure is the thing this pad declines.
Boards will fund replacement of a known ops cost. They will not fund a crowd sale dressed as infrastructure.
The customer’s existing ops budget is the TAM that matters.
Versus the field
The incumbent brand sells the relationship. Jute Gate 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.
Named: Leeds. Off-limits: Mainland China retail, United States. A US person hearing an offering communication is a US problem even if the company sits in Leeds. Blocking an IP and taking a US Telegram admin is not a block.
How it works
- 01A job the customer already does is moved onto a shared record
- 02Access is permissioned
- 03Revenue is software or a service fee
- 04No public allocation on this pad
- 05Kill of a public sentence is an hour, not a committee.
In the same conversation as
- Incumbent ops vendors
- Internal builds
- Public tokens (the thing to avoid)
If they raise
Where the money would actually go.
Not a token float. A budget against work. RCA Pad still takes 0% of proceeds.
Claims & campaign ops
29%
Keeping the public story from running ahead of the claims register.
Second market
21%
Hiring the operator who already does this job at a licensed firm.
Named operators
20%
A counsel memo that can survive a later reader.
Counsel & perimeter
30%
Dual-control drills, key ceremonies, and the person who owns them.
Operating week
What “in market” actually looks like.
- SatDarkNo creators. No threads. Restricted geos stay dark.
- 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.
- TueExceptionsOvernight breaks post back into the customer’s case system. No side book.
The wedge
Why this one, not the other one.
- They sell
- Per event
- Who pays
- A warehouse or port that has written a live event.
- Unit economics
- Bps on a job that already has a budget line. A public coin would not make the invoice larger.
- Moat on file
- Counsel on file, or the file stays quiet.
- Switching cost
- Scheme maps, ISO, LMA language, registry adapters — eighteen months of unglamorous work.
- Vs the comps
- Incumbent ops vendors are slow. Internal builds are slower.
- Why we listed it
- A named geography, not ‘global retail’.
Next twelve months
What has to be true.
Still no public token as the business model.
No public APY, no public book, no ‘how to buy’ on any surface we could find.
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.
Founded 2025, headquartered in Leeds. One named pilot on file (redacted in public). 4 nodes or connected surfaces reported. Desk diligence score 79/100. A warehouse or port that has written a live event. No public APY, no public book, no ‘how to buy’ on any surface we could find.
- Architecture paper — no production customer on the public file
- No token contract listed as a public sale
- Named founder; customer still a conversation
- Leeds 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.”
- Product29
- Customers40
- Legal path62
- Tech maturity40
- Demand10
- Market access44
Risks
What can kill it.
The one that actually kills it
A second geography without a lock
Extending the record into a market that is still restricted is how a clean Leeds story becomes a fact pattern. The restricted list exists for a reason: Mainland China retail, United States.
No customer
A lab without a named buyer is a paper.
Token as business model
If the only revenue is a token, this is the wrong pad.
Path
Counsel has to name how this is offered, or it stays not-offering.
Geography
Retail and unnamed markets are off until someone writes them on.
No customer
A lab without a named buyer is a paper. Jute Gate has to show one.
Incumbent feature
The administrator, CCP, scheme or custodian can ship this as a checkbox. Jute Gate has to be cheaper or faster before that happens.
Ask these next
- 01Where do keys, title, or NAV liability sit — and is that person licensed?
- 02Which incumbent can copy this in a quarter, and what would they have to migrate?
- 03Is the waitlist demand for a product, or a queue for a coin?
- 04Which geography is actually locked, and which is a hope?
- 05What does renewal look like if no round ever happens?
- 06Who is the first named paying customer — not a letter of intent?
Structure
How money would actually move.
Too early to talk about a round on this pad. Screen first. A path has to be named by counsel before anyone should wire.
- Entity
- Jute Gate 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.
- Leedsnamed
- Mainland China retailrestricted
- United Statesrestricted
Team
Who runs it.
- Marcus KhanChief executive
- Lars VossFinance
Stack
- Agent register
- Listing agent ops
- Approval trail
- Disclosure templates
Named with them
- Clearline
Who can decide
Marcus Khan (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, Jute Gate is a services firm with a slide. The twelve-month test is renewal, not waitlist.
Claims with evidence
Statements with evidence.
| Statement | Evidence | Status |
|---|---|---|
| Jute Gate does not sell a token to the public on this pad | Posture lock | live |
| The product is listing agent ops sold to institutions | Architecture + customer type | draft |
| Agent register is the method — not a listed asset | Paper only | draft |
| 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 | Desk file | draft |
| No public token is sold on this pad | Engagement terms + posture lock | live |
| Customers contemplated: Leeds | Named markets on the file | draft |
On the record
- Application APP-4300ScreenSep
- Counsel questionPathSep
Operating log
01 Sep 16:00
Application scored. Jute Gate is not a calendar slot.
10 Sep 10:12
Counsel question sent. Name a path or lock not-offering.
Path to now
Now
Screen
Calendar is never automatic.
Next
Counsel or close
A named path, or a locked not-offering.
Not a subscription
This is not a sale page.
Too early to talk about a round on this pad. Screen first. A path has to be named by counsel before anyone should wire. Founders who want a pack like this one apply. Readers who want the company talk to the company — not to this pad.
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.