The wedge
TA integration
The wedge is repeating KYC at every gate of the same allocator.
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
PEEL
Closed
CLOSEDTransfer agencyPeel
Window closed. a short list asked while it was live. You are reading history.
If this pad disappeared tomorrow, the customer could still run the job. That is why they are here.
Peel — 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.
Closed on this board. Any capital event was completed with the issuer’s own providers. RCA Pad took 0%.
Closed. The live conversation is over. The pack remains as archive.
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
completed
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
Australia · closed private round
Sentences killed
0
Before listing
Claims live
0/10
Growth
Our cut
0%
Of any proceeds
Plate Concentric · 7898
PEEL
The plate
Concentric. Edition 7898.
A unique plate for Peel. Geometry, orbit, and edition belong to this company — no other listing on the board shares it.
PEEL · Sydney · Transfer agency
Score
0
Desk diligence
Pilots
0
Named, redacted
Stage
completed
completed
HQ
Sydney
Fund administrators
Sells
TA
TA integration
Markets
0
Australia
Years
0
Founded 2021
Surfaces
0
TA adapters
Complete
0
File readiness
Why the desk took it
A real job, not a ticker.
They named the attester. Most decks do not.
Traction
2 named pilots (redacted).
Founded 2021, headquartered in Sydney. 2 named pilots on file (identities redacted in public). 13 nodes or connected surfaces reported. Desk diligence score 81/100. A treasurer at a bank that already settles — not a crypto-native desk. Architecture says keys / title / NAV liability sit with a named licensed party — not Peel.
Next 12 months
Three funds onboarding on the graph, not a demo.
A ‘passport token’ is usually a security in costume. Per-event pricing so a pilot can start without a transformation programme.
The brief
How a serious reader should hold this.
Most Transfer agency decks start with a market size. This one starts with a job: a person at a licensed firm, a record they cannot currently prove, and a calendar that does not wait for a proposed US rule. The calendar is the window. The window is the scarce thing.
Read this as an operating company, not a round. Counsel has a posture: Australia · closed private round. Restricted markets stay dark. RCA Pad takes 0% if they ever raise. That combination is why inbound did not need a ticker.
A dual-control drill sits on paper. Keys, title, or NAV liability sit with a named licensed party — not Peel. The architecture says so. We have not watched the drill live. That is the next ask, not a slogan.
From the pilot
The legal source of truth stays with the incumbent register, admin, or custodian. Peel does not attest to its own facts.
From counsel
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 screen
Fixed fee. Deposit to start. 0% of proceeds. Token-only pay is declined. Percentage of raise is declined.
The window
Miss this and you read the archive.
The decline pile in Transfer agency is full of companies that looked the same on slide one. This one is listed.
Certification is in motion. After it lands, the price of the seat is not the question — access is.
The scarce thing is not the company. It is the next 0 days of a live conversation.
Window
Closed
Closed. History only — not a place to buy.
- Sentences killed
- 9
- Counsel hours on file
- 36
- Asks / week
- 1
- Our cut
- 0% of proceeds
US came off the site in the first session. We did not argue. We are not children.
This company
Peel
Open-source looks free until the auditor asks who attests. Peel has an answer.
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
The incumbent brand sells the relationship. Peel 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.
Sydney 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 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
- 06Kill of a public sentence is an hour, not a committee.
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.
Certifications & adapters
36%
Keeping the public story from running ahead of the claims register.
Control environment
21%
A counsel memo that can survive a later reader.
Counsel & perimeter
22%
Adapter work against the incumbent register, admin, or custodian.
Claims & campaign ops
21%
Dual-control drills, key ceremonies, and the person who owns them.
Operating week
What “in market” actually looks like.
- MonClaimsEvery public sentence checked against the register. Anything extra is unpublished.
- TueExceptionsOvernight breaks post back into the customer’s case system. No side book.
- SunOwnersWho can decide messaging and budget on a recorded line. If the answer is nobody, stop.
- ThuCustomerNamed pilot (redacted) sees the same record the auditor saw.
The wedge
Why this one, not the other one.
- They sell
- TA integration
- Who pays
- A treasurer at a bank that already settles — not a crypto-native desk.
- Unit economics
- Per-event pricing so a pilot can start without a transformation programme.
- 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
- They named the attester. Most decks do not.
Next twelve months
What has to be true.
Three funds onboarding on the graph, not a demo.
Architecture says keys / title / NAV liability sit with a named licensed party — not Peel.
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 Sydney. 2 named pilots on file (identities redacted in public). 13 nodes or connected surfaces reported. Desk diligence score 81/100. A treasurer at a bank that already settles — not a crypto-native desk. Architecture says keys / title / NAV liability sit with a named licensed party — not Peel.
- Operating notes for TA adapters
- No token contract listed as a public sale
- Named founder; customer still a conversation
- Sydney is the operating centre
- The waitlist, if any, is a product list — not a book
- Raise, if any, closed with issuer providers
Readiness
Six things a serious buyer asks. 100 is “ready to take to counsel and a customer.”
- Product95
- Customers62
- Legal path84
- Tech maturity67
- Demand10
- Market access68
Risks
What can kill it.
The one that actually kills it
The named customer is a letter of intent
Pilots that cannot be named, even redacted, are theatre. One paying seat that an auditor has seen is worth more than a waitlist of a short list.
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 Peel is the attester, this is a database with extra steps. The graph only matters if someone else signs.
Facts vs theatre
A proof of a fake book is still a fake book. Peel has to attach to the real one, in Sydney.
Ask these next
- 01Where do keys, title, or NAV liability sit — and is that person licensed?
- 02What happens if a founder later wants a public token?
- 03What does renewal look like if no round ever happens?
- 04Which geography is actually locked, and which is a hope?
- 05Is the waitlist demand for a product, or a queue for a coin?
- 06If RCA Pad disappeared tomorrow, could the customer still run the job?
Structure
How money would actually move.
Window closed. Tombstone is theirs. Archive is ours. 0% of proceeds.
- Entity
- Peel Pty Ltd
- Path on file
- Australia · closed private round
- Posture
- Private only
- 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.
- Australianamed
- United Kingdomnamed
- EU retailrestricted
Team
Who runs it.
- Zara HolmChief executive
- Nadia RibeiroChief technology
Stack
- TA adapters
- Transfer agency
- Audit log
Named with them
- Clearline
Who can decide
Zara Holm came in named. The team is not a handle. Peel Pty Ltd exists, founded 2021, headquartered in Sydney. Anonymity would have been an automatic decline.
A second counterparty writing into the record is the only network effect that counts. One customer is a consultancy. Two is a market.
Claims with evidence
Statements with evidence.
| Statement | Evidence | Status |
|---|---|---|
| Peel does not sell a token to the public on this pad | Posture lock | withdrawn |
| The product is transfer agency sold to institutions | Architecture + customer type | withdrawn |
| TA adapters is the method — not a listed asset | Desk snapshot | withdrawn |
| Retail buyers are out of scope | Named markets lock | withdrawn |
| Any raise completes with the issuer’s counsel and providers — not on RCA Pad | Fixed-fee terms | withdrawn |
| Production date for the chain layer is not committed | No board minute | withdrawn |
| No public token is sold on this pad | Engagement terms + posture lock | withdrawn |
| Customers contemplated: Australia, United Kingdom | Named markets on the file | withdrawn |
On the record
- Final registerArchiveAug
- Close reportReportAug
- Tombstone copyArchiveAug
Operating log
19 Aug 10:00
Close report. 0% of proceeds.
12 Aug 18:00
Peel archived. Live claims withdrawn.
11 Aug 09:30
Final creator pass. Residual claims pulled.
Path to now
Open
File
Before any public sentence.
Close
Archive
We did not take a cut.
Not a subscription
This is not a sale page.
Window closed. Tombstone is theirs. Archive is ours. 0% of proceeds. Founders who want a pack like this one apply. Readers who want the company talk to the company — not to this pad.
Other companies
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