Compliance Infrastructure for Private Markets

obolos is compliance infrastructure for tokenized equity, letting companies, funds, and institutions enforce securities rules directly on-chain at the share level.

We make compliance programmable and embedded on the equity instrument itself, so founders, shareholders, and institutions all work from the same source of truth — without the duplicated cost and friction of today's fragmented systems.

Incorporating, raising funds, issuing options, communicating updates — all live in disconnected platforms. Cap tables diverge across tools and spreadsheets. Every fundraise means weeks of reconciliation. Employees wait 7–10 years for liquidity on shares they don't actually hold.

Scale this up to legal firms, M&A advisors, brokers, and investment banks — and the time spent reconciling ledgers and KYC attestations becomes a significant part of the deal itself. Larger institutions spend billions on compliance, independently — $76M+ on average.

• $206B+/year spent globally on financial crime compliance, most duplicated across counterparties
• 61–150 days for KYC onboarding at over half of financial institutions
• $10–50K and 4–12 weeks per private securities transfer
• No shared ledger for $10.6T in private equity AUM — every participant maintains their own version of the record

obolos enables a world where equity agreements enforce themselves. Where ownership is verifiable, not promised. Where compliance is verified once, and trusted by all.

Founders managing equity in one tool from day one until they go public. Investors scaling their funds with real-time transparency. Employees actively informed of their obligations and rewards. Legal firms plugged into a shared compliance layer instead of rebuilding it from scratch for every deal.

The cost of compliance — today measured in billions — drops to the marginal cost of a cryptographic proof.

Built on the CMTAT tokenisation standard with a proprietary Compliance Layer that codifies and enforces jurisdictional rules.

• FHE for privacy and selective disclosure
• Ethereum as settlement and storage layer
• Self-custody — companies own their data and actions

Phase 0: Foundation ✅ — Cap tables, vesting, dividends, document storage, board actions

Phase 1: Private Markets ✅ — Priced rounds, SAFEs, convertibles, options/RSUs, transfer restrictions

Phase 1.5: Secondary & Infrastructure (in progress) — Broker-dealers, ROFR automation, nominee holdings, service provider APIs

Phase 2: Institutions — Pre-IPO auditability, DTC interoperability, real-time settlement

1. Regulatory clarity: SEC (Jan 2026) confirmed equity tokens in official registers represent true ownership. Delaware and Swiss law already support blockchain ledgers.
2. Scaling & Privacy: FHE enables on-chain confidentiality without sacrificing compliance. Transaction costs are near negligible.
3. Market demand: BlackRock's $2B+ BUIDL fund validates institutional appetite. Crypto-native founders increasingly want on-chain equity.
4. Secondary market growth: $226B in private secondary volume in 2025, growing ~40% YoY toward $400B by 2030.

Try it now. No real funds at risk.

• Founders dApp
• Investors dApp

obolos.io · @equitylayer · petros@obolos.io