The proof layer for tokenised capital

Terms in stone.
Keys on chain.

Stele inscribes every document and term in a Write-Once-Read-Many vault and anchors the verification keys on-chain inside the token itself. Investors verify the record for themselves. Issuers never lose a document again.

Traditional finance has paper.
Basic crypto has no backing.
Stele has both.

The same private placement, run three ways.

Traditional finance
Basic crypto token
Stele
Documentation
Paper, email threads, four “final” versions
None — the token has no document layer
Inscribed in a WORM vault, linked to the token
Verifiability
Trust the issuer and their lawyers
Trust the issuer and a pseudonymous wallet
Investors verify the keys themselves, on-chain
Speed of placement
8–12 weeks
Days, but with no underlying record
2 weeks, with a full audit trail
Cost
High (intermediaries, reconciliation)
Low, but with counterparty risk
Low, with counterparty risk removed
Governance model
Centralised, permissioned
Decentralised, unregulated
Hybrid: compliant + cryptographically enforced
Regulatory posture
Varies by jurisdiction
Frequently adversarial
ERC3643 compliant, KYC/AML baked in

How it works

Doubly anchored. By design.

When an issuer uploads a document to Stele, two things happen simultaneously. The document is inscribed in a Write-Once-Read-Many vault — it can be read by anyone with permission, but it can never be altered or deleted. Its encryption keys are anchored on-chain, inside the smart contract of the token itself. To alter a single term after issuance, an attacker would have to break the vault and the blockchain. That is the double-anchor.

The Stele proof mechanic — double-anchored record Three zones. Left: the Stele Vault, containing a Write-Once-Read-Many inscribed document with visible structure and a bronze wax-seal hallmark. Centre: the verification key — a SHA-256 fingerprint bar, detailed key glyph, and hexadecimal hash. Right: the Stele Chain, a smart contract with the same key embedded above the token’s functional logic. Below: an investor viewpoint showing any party can verify either anchor against the other. Caption: to alter a single term, you would need to break both.

THE PROOF MECHANIC

STELE VAULT BOND PLACEMENT TERM SHEET · EXECUTION COPY 1. AMORTISATION 2. COVENANTS 3. REDEMPTION S ISSUER · EXECUTED WRITE ONCE · READ MANY

VERIFICATION KEY 0x74cf94a2…e9a3b SHA-256 · 32 BYTES S SAME KEY · BOTH ANCHORS

STELE CHAIN SMART CONTRACT · ERC3643 contract StelePlacement { // Anchored key bytes32 vaultKey = 0x74cf94a2…e9a3b; // Functional logic function verify() external; function inscribe() external; function transfer() external; } KEY EMBEDDED ABOVE LOGIC ERC3643 · PERMISSIONED TRANSFER

ANY PARTY VERIFIES EITHER ANCHOR AGAINST THE OTHER Independent · permissionless · at any point in the life of the security To alter a single term, you would need to break both.

The Stele proof mechanic — double-anchored record (mobile layout) Three zones stacked vertically. Top: the Stele Vault with an inscribed term sheet and WORM indicator. Middle: the verification key — SHA-256 fingerprint bar, key glyph, hex hash, and a bronze hallmark noting the same key appears in both anchors. Bottom: the Stele Chain, with smart contract excerpt, embedded key, and ERC3643 badge. Caption: to alter a single term, you would need to break both. THE PROOF MECHANIC STELE VAULT BOND PLACEMENT TERM SHEET · EXECUTION COPY 1. AMORTISATION 2. COVENANTS 3. REDEMPTION S ISSUER · EXECUTED WRITE ONCE · READ MANY VERIFICATION KEY 0x74cf94a2…e9a3b SHA-256 · 32 BYTES S SAME KEY · BOTH ANCHORS STELE CHAIN SMART CONTRACT · ERC3643 contract StelePlacement { // Anchored key bytes32 vaultKey = 0x74cf94a2…e9a3b; // Functional logic function verify() external; function inscribe() external; function transfer() external; } KEY EMBEDDED ABOVE LOGIC ERC3643 · PERMISSIONED ANY PARTY VERIFIES EITHER ANCHOR AGAINST THE OTHER To alter a single term, you would need to break both.

What goes in the vault

Legal documents, term sheets, covenants, subscription agreements, KYC attestations. The vault supports two modes: Write-Once-Read-Many for final, binding documents, and Open Access for ongoing reporting. WORM documents cannot be altered or deleted. Open Access can be promoted to WORM, but WORM can never be demoted.

What goes on the chain

The encryption keys that unlock and verify what is in the vault — embedded directly into the smart contract above the token’s functional logic. Anyone who holds or audits the token can check that the keys still match the vault. If a document has been tampered with, the keys no longer resolve.

Where Stele is running.

Private placements were the wedge. The mechanic scales across any asset that needs verifiable ownership and provable terms.

Bonds & private placements

The original wedge. Version-control chaos on term sheets solved at issuance. A bond raise in two weeks instead of twelve.

PRIMARY

Capital raising / digital IPO

Issue digital shares with documents, compliance rules, and investor permissions wired in from day one. Raise globally, in a fraction of the time.

LIVE

Real estate

Fractional ownership with title, registration, and valuation documents travelling with the token. Global liquidity without the paperwork.

LIVE

Funds

LP subscriptions, capital calls, and NAV reporting inscribed as the fund evolves. One auditable record across the life of the vehicle.

LIVE

Collectibles

Classic cars, fine art, high-value instruments. Provenance documents linked to the token; liquidity without selling the whole asset.

BETA

Four reasons to move your next placement to Stele.

01

Every term, inscribed before it’s issued.

The WORM vault ensures the final version is the final version. No “amended in email” revisions. No forked drafts. No reconstruction exercises six months after close.

02

Investors verify for themselves, without asking.

Keys are public. Documents are cryptographically bound to the token. Any investor, regulator, or auditor can independently prove what was agreed — without sending an email to your IR team.

03

Two weeks, not twelve.

Drafting, structuring, smart-contract deployment, and issuance happen on one stack. Intermediaries don’t disappear entirely — but the version-control overhead, the reconciliation, and the document chaos do.

04

Built on compliant rails.

ERC3643. KYC/AML baked in. Permissioned transfers. Regulatory documentation inscribed alongside commercial terms. Designed to pass pension-fund procurement on day one.

Inscribe your next raise on Stele.

Twenty minutes with the team to see if we fit. Or start the token creation flow yourself — the first step is free.

Stele is an issuance and record-preservation platform. Stele is not a registered broker-dealer, investment adviser, or clearing agent, and does not custody securities or offer investment advice. Securities inscribed on Stele are issued by their respective sponsors and are subject to the regulations of the jurisdiction in which they are offered. Information on this site is for informational purposes only and does not constitute an offer to sell or a solicitation of an offer to buy any security. Regulatory registrations and disclosures (FCA, SEC, other) to be added pre-launch.
© 2026 STELE LIMITED · REGISTERED IN ENGLAND & WALES
STEE-LEE

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