Law of Code #159 - On-chain transfer agents and compliance, with Fairmint CEO Joris Delanoue
Oct 27, 2025
Joris Delanoue, Co-CEO of Fairmint, specializes in tokenized equity and on-chain legal compliance. He shares insights on how Fairmint has managed over $1B of equity on-chain and discusses the benefits of moving cap tables to smart contracts. Joris explains the significance of becoming an SEC-registered transfer agent and how compliance can be automated through blockchain technology. He advocates for reforming accredited investor rules to enhance access, while also addressing privacy and human error issues faced in the tokenization landscape.
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On-Chain Equity Restores Ownership
- Bringing equity on-chain restores direct ownership and enables DeFi composability for private securities.
- Tokenized shares let holders use equity as collateral, trade, or access liquidity like paper certificates once did.
Cap Tables As Open Smart-Contract Protocols
- Fairmint turns cap tables into smart contracts using an open protocol standard.
- This standard avoids walled gardens and makes private cap tables programmatic and interoperable.
Privacy Push Led To Canton Migration
- As Fairmint scaled, privacy concerns from boards pushed them to research FHE, ZK, and Canton.
- They migrated cap tables to Canton Network to satisfy privacy and win enterprise trust.