Fairmint is the First SEC-Registered Transfer Agent to integrate with the Transfer Agent Protocol (TAP)
Today, we are proud to announce that Fairmint is the first SEC-registered Transfer Agent to integrate with the Transfer Agent Protocol (TAP).
In Fairmint’s journey to create a more open and efficient rail for the securities industry, we recognized early on the limitations of relying on another in-house proprietary cap table management implementation.
The international law firm Gunderson Dettmer recently published Where does the cap table industry go now? and says it best:
Echoing this statement from the Gunderson team, we consider the cap table to be the heart of the securities stack, demanding openness, standardization, and complete ownership by the company.
Innovating with TAP: A Leap Towards Standardization in the Transfer Agent industry
With Fairmint, Poet Network, and Plural Energy as founding members, TAP stands out as the first open-source software backend designed specifically for standardized equity management, catering to transfer agents. The first stable release of the protocol is anticipated in Q1 2024.
TAP was developed on the foundation of the Open Cap Table Format (OCF), the Open Source Company Capitalization Data Standard, which has received endorsements from more than fifty leading US law firms and prominent industry players. (Open Cap Table Coalition website)
The widespread adoption of OCF as a standard within the equity management sector serves as a powerful solution for founders and attorneys seeking to regain command over their capitalization data, underlining Fairmint’s dedication to fostering open and standardized practices.
Leadership Perspectives: Pioneering Change Together
At Fairmint, we didn’t want to build yet another in-house proprietary cap table management implementation.
*Thibauld Favre, co-CEO of Fairmint, shares: *“By choosing to build on open-source standards like the Transfer Agent Protocol and the Open Cap Table format, we’re pioneering the future of the equity management industry based on trust and transparency.”
*Joris Delanoue, co-CEO of the SEC-registered Transfer Agent, further emphasizes the significance of this move: *“This breakthrough represents Fairmint’s commitment to driving meaningful change in the financial landscape, ensuring that equity management is accessible and efficient for all parties involved from incorporation to IPO.”
A Unified Vision: The Power of Collaboration
The genesis of the protocol exemplifies the power of partnership in driving industry-wide change. Co-initiated by Thibauld Favre, Joris Delanoue, Victor Mimo, Alex Palmer, Adam Silver, and Alex Fong, the unique and decentralized collaborative effort behind Transfer Agent Protocol reflects a shared experience of the challenges faced when it comes to innovating on the securities stack.
Welcoming Victor Mimo to the team
Reinforcing Fairmint’s dedication to the future of the protocol, we are thrilled to welcome Victor Mimo to our team. Victor, who has spearheaded the technical implementation of TAP in 2023, will continue to lead its technical advancements now supported by Fairmint while ensuring seamless integration into Fairmint’s product, and it promises a lot more for the equity management industry.
“Joining Fairmint to integrate what we’ve been working so hard on is both an opportunity and a privilege. I look forward to contributing with Fairmint to our mission of transforming equity management ,” said Victor Mimo, enthusiastic about his new role.
To learn more visit Fairmint.com, or contact us.
Originally published on Medium.
