Confidential · Compliant · On-chain
Private, compliant settlement for tokenized real-world assets.
Veil turns a tokenized asset into an encrypted holding — ownership, balances and transfers hidden — while KYC, issuer controls and authorized-auditor view keys stay fully intact. The confidential settlement layer for institutions, built on Starknet.
Starknet-native · SNIP-36 in-protocol proofs · Stwo STARK — no trusted setup · ERC-3643 + ERC-721 · Live on Sepolia
The blocker
RWA can't run on a chain that exposes every position.
Front-running
Visible order flow and on-chain positions get picked off — institutions get worse execution the moment they accumulate.
Client-data exposure
A wallet tied to a real client makes its holdings permanent public data, colliding with GDPR, bank secrecy and fiduciary duty.
Institutions stay away
Regulated firms legally cannot trade where positions are public. The serious flow never arrives on a transparent chain.
Privacy here isn't a feature. It's the precondition for institutional volume.
The layer
You run the platform. Veil is the confidential settlement underneath.
Veil isn't an exchange or an issuer. Exchanges, issuers, funds and desks keep their product, users and operations; Veil settles the result privately and compliantly on-chain.
What you get
Privacy by default. Disclosure only when the law demands.
Encrypted holdings
A tokenized asset becomes an encrypted note on-chain — ownership, amounts and transfers hidden from everyone but you and authorized auditors.
KYC + ERC-3643 compliance
Every transfer is proven to satisfy eligibility, can-transfer, freeze, pause and country rules — enforced privately, inside the proof.
Issuer controls preserved
Freeze and forced-transfer (recovery / clawback) execute even on an encrypted holding. Issuers never give up control.
Auditor view keys
Selective, provably-scoped disclosure on lawful request — the auditor reads one user, never the uninvolved rest.
Private atomic DvP
Asset-for-cash settles atomically, with the maker's limit price and per-token conservation enforced on-chain.
Starknet-native proofs
SNIP-36 in-protocol verification with the Stwo STARK prover — no trusted setup, post-quantum, no new chain, no bridge.
How it works
From tokenized asset to confidential settlement.
Deposit
A tokenized RWA enters the pool and becomes an encrypted holding.
Transact
Hold, transfer or trade through your platform — exchange, issuer, fund or desk. Any order flow or matching stays off-chain.
Settle
Veil settles privately on-chain — atomic DvP for trades, confidential transfers otherwise. Balances and counterparties stay hidden.
Disclose
Issuers keep freeze & recovery; auditors get view-key access only when the law requires.
How Veil compares
The only stack that is private, compliant and self-custodial at once.
| Protocol | Approach | Confidential holdings | KYC + auditor disclosure | RWA issuer controls | Private DvP settlement | Public chain · self-custody |
|---|---|---|---|---|---|---|
| Veil | zk-STARK · Starknet | ✓ | ✓ | ✓ | ✓ | ✓ |
| Zama | FHE · fhEVM (cross-chain) | ✓ | ◐ | ◐ | ◐ | ✓ |
| Canton Network | Permissioned · need-to-know | ✓ | ✓ | ✓ | ✓ | ✕ |
| Aztec | zk-SNARK · privacy L2 | ✓ | ◐ | ✕ | ◐ | ✓ |
| Aleo | zk-SNARK · privacy L1 | ✓ | ◐ | ✕ | ✕ | ✓ |
| Railgun | zk · EVM privacy system | ✓ | ◐ | ✕ | ✕ | ✓ |
| Panther | zk · privacy DeFi | ✓ | ◐ | ✕ | ✕ | ✓ |
| Renegade | MPC + zk · dark pool | ✓ | ✕ | ✕ | ✓ | ✓ |
| Confidential EVMs | TEE / FHE · Oasis, Inco, Fhenix, COTI | ✓ | ✕ | ✕ | ✕ | ✓ |
Closest overlaps: Canton Network leads institutional RWA but is permissioned — no public-chain access or self-custody; Zamabrings FHE confidential tokens to Ethereum but isn't an RWA settlement venue with issuer controls and DvP; Renegade nails private trading but carries no compliance or issuer layer. Veil is the only one combining confidential holdings, ERC-3643 compliance with auditor disclosure, issuer controls, and private DvP on a public, self-custodial chain.
Positioning as of mid-2026, by each project's primary design focus — not a feature-by-feature audit. "Confidential EVMs" groups TEE/FHE infrastructure (Oasis Sapphire, Inco, Fhenix, COTI). Veil is live on Starknet Sepolia (testnet) and pending independent audit. Sources: project docs, Messari, CoinGecko, Canton Network.
Apply for the pilot
Prove a confidential RWA market end-to-end — at zero risk.
We run a low-risk pilot entirely on Starknet testnet: private positions, compliant settlement, issuer controls and auditor access. Contracts are deployed and the SDK is ready — it's mostly integration.
- ✓Zero production exposure, zero regulatory exposure.
- ✓A working demo in a few weeks.
- ✓For exchanges, RWA issuers, funds and institutional desks.
Prefer email? esantoz@protonmail.com