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By Eara: European regulated RWA ecosystem
Eara is a pioneering platform for regulated investment asset digitalization in Europe, backed by the founders of a licensed securities agency. We are now bringing our expertise to the Stellar network, leveraging its Soroban smart contract platform to build the auditable on-chain logic for a new generation of regulated digital assets.
We are evolving our established RWA platform by rebuilding our core systems on Stellar. This creates a regulated, on-chain ecosystem that not only enhances our current services but also opens the door to new business models. In response to previous feedback, we have designed this section to clearly outline our specific products and detail how Stellar's technology is essential to their implementation.
What It Is: This product provides a reusable "compliance passport" for investors, solving the critical challenge of recurring identity verification for regulated assets. It is an on-chain, sovereign identity system inspired by open standards like ERC-3643.
How Stellar Fits (Technical Implementation): The system is built on a suite of Soroban smart contracts, including an IdentityRegistry.rs contract that serves as the on-chain source of truth for compliance credentials. The user onboarding and authentication process is secured and standardized by leveraging the broader ecosystem, using SEP-10 for wallet authentication and SEP-22 for simplified account creation.
What It Is: This is our institutional-grade engine that translates complex financial regulations into executable on-chain rules. It manages the entire lifecycle of an RWA, from creation to compliance enforcement, automating processes that are currently handled off-chain.
How Stellar Fits (Technical Implementation): The engine uses a hybrid architecture—a best practice on Stellar—representing the RWA as a highly efficient Stellar Classic Asset, while all compliance logic is managed by a dedicated AssetControl.rs Soroban contract. This contract acts as a gateway, featuring a mandatory "compliance hook" that validates every transaction against the Eara CompliantID registry.
What It Is: This product is an institutional-grade governance framework designed to securely manage all high-privilege administrative functions, ensuring no single entity can unilaterally change the rules of a regulated asset.
How Stellar Fits (Technical Implementation): The framework's foundation is Stellar's most battle-tested security feature: native Multi-Signature Accounts, configured with a 5-of-7 signature scheme. The workflow for approving critical administrative actions is standardized and secured using SEP-7 for delegated signing from hardware wallets and SEP-5.
What It Is: This product transforms the Stellar ledger into a dual-function public registry, providing both a real-time record of asset ownership (cap table) and a high-integrity notarial service for legally significant documents validated by the ERIR.
How Stellar Fits (Technical Implementation): The real-time cap table is powered by streaming live transaction data from the Horizon API's WebSockets. The notarial service is built using the native ManageData operation, which anchors cryptographic hashes of legal documents on-chain, with each entry's validity guaranteed by a signature from the Eara Secure Custodian multisig.
What It Is: This product solves one of the biggest challenges for RWAs in DeFi by providing a reliable and auditable Net Asset Value (NAV) directly on-chain, making our assets truly composable and usable as collateral in other DeFi applications.
How Stellar Fits (Technical Implementation): We will develop a dedicated NAVOracle.rs Soroban contract that functions as a trust-minimized oracle. Its core mechanism will aggregate data from multiple sources, including cryptographically signed off-chain data from professional appraisers and on-chain revenue streams, leveraging Soroban's ability to verify signatures and read on-chain state.
What It Is: This product represents the critical development work required to bridge our existing, market-validated off-chain platform with the new, powerful on-chain components built on Stellar. It is the enabling layer that makes the entire on-chain architecture manageable and accessible through the professional-grade interfaces that our clients and users already know.
How Stellar Fits (Technical Implementation): The integration will be handled by upgrading both our backend and frontend repositories with specific modules designed to communicate with the Stellar network.
Backend Integration: Our FastAPI backend will be enhanced with a dedicated integration module. This module will communicate with our on-chain contracts via the Soroban SDK (Python). All administrative and automated on-chain actions—such as deploying a new asset via the AssetFactory.rs or submitting a signed valuation to the NAVOracle.rs—will be constructed and submitted through this secure, isolated service.
Frontend Integration: Our Vue.js dashboards will be upgraded to provide a seamless on-chain experience. To display real-time data, they will connect to our Horizon API Connector Module, which streams live ledger data using WebSockets. For user-initiated actions, the frontends will be integrated with Stellar-compatible wallets (potentially using libraries like the Stellar Wallets Kit) to allow users to securely sign transactions.
Our commitment extends beyond our own platform. We will deliver significant value back to the Stellar community through three core contributions:
Making Our Core Technology Accessible: We will make our core Soroban contracts—including our IdentityRegistry.rs, AssetControl.rs, and NAVOracle.rs—available to the ecosystem. By providing our well-documented code as a reference implementation, we empower other projects to build compatible, regulated solutions, creating a network effect around a common standard.
Pioneering a New Standard: We will work with the community to formalize our on-chain compliance and governance model into a new Stellar Ecosystem Proposal (SEP). Our goal is to create a standard framework for "ERIR-Compliant" assets on Soroban, making it easier for other regulated financial projects to build on Stellar.
Sharing Knowledge & Building Community: We are committed to publishing practical, in-depth technical tutorials on our implementation of Multisig Governance and On-Chain Compliance for RWAs. Our team will also actively support other developers in the official community channels.
Yes
$90.0K
Successfully complete the development and audit of the V1 of our core on-chain product suite: Eara CompliantID, Eara Regulated Tokenization Engine, Eara Secure Custodian Eara Investment Registry system.
Onboard 4 to 8 new institutional clients to our platform following the launch on Stellar, representing a projected Total Value Locked (TVL) of approximately €25 million.
Achieve over €300,000 in platform revenue within the first 12 months post-launch, demonstrating the strong commercial viability of our regulated RWA model on Stellar.
Expand our core team by hiring 1 to 3 key roles in our technology and product departments to support our growth post-launch.
Forge new strategic partnerships within the Stellar ecosystem, collaborating with other builders, investors, and technical experts to contribute to the network's growth.
Our plan is structured in three practical phases.
Phase 0: Our Starting Point: Our plan is based on our existing RWA platform (over €5M tokenized) and our established partnership with a licensed securities firm, which is also an equity holder in Eara.
Phase 1: Initial Launch & Client Activation: We will begin by upgrading our existing clients to the new Stellar platform, while simultaneously launching a live tokenization project to serve as a powerful, public demonstration of its real-world value.
Phase 2: New Client Outreach: We will approach our pre-existing sales pipeline with the new, more efficient and scalable regulated platform.
Phase 3: Modular Product Offering: We will begin to offer specific components of our technology as standalone, licensable services to other businesses.
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To date, our RWA platform has tokenized over €5 million and facilitated more than €16 million in transactions across several European countries, all while being completely bootstrapped.
Our key strategic asset is our equity partnership with a licensed securities firm that manages over €500 million. This foundational relationship provides the direct regulatory pathway and credibility needed to issue public security tokens under new European frameworks like ERIR, in coordination with financial authorities such as the CNMV.
Our existing clients in the real estate and financial sectors complement this by providing a consistent pipeline of assets. This combination of a proven platform, deep regulatory integration, and an existing client base forms the foundation for our Go-to-Market strategy on Stellar.
Our launch will begin with two main activities. First, we will contact our existing clients to offer them the opportunity to issue new assets on our Stellar infrastructure. This will allow us to generate immediate, real-world case studies. In parallel, we will work with a key partner to launch one of the first regulated real estate tokenizations in Spain on the Stellar network. This will serve as a public demonstration of our platform's capabilities under the new regulatory frameworks.
Once our platform is live on Stellar, we will begin outreach to our existing pipeline of over 500 qualified leads. We will present them with our new platform, which offers a clear path to issuing regulated assets on a scalable and cost-effective infrastructure. We will also work on technical integrations with other Stellar ecosystem partners, such as wallets and on-ramps, to improve our product's usability for a wider audience.
In this phase, we will begin to offer our core technology as separate modules. We will start by making our Eara CompliantID module available as a licensable service. This will allow other businesses building on Stellar to integrate our European-compliant identity solution into their own products, creating a new revenue stream for Eara and adding value to the broader ecosystem.
Commercial Activity: We have facilitated over €16 million in transactions and generated over €300K in revenue, all while being completely bootstrapped.
Regulatory Structure: We have an equity partnership with a licensed securities firm (managing over €500M), which provides the necessary framework for establishing a regulated registry entity (ERIR) that allows us to issue regulated tokenizations (Hardcap: 500m for each tokenization)
Industry Recognition: We have been selected by leading European accelerators, including Lanzadera and SeedRocket, and partnered with top-tier firms like Cuatrecasas.
Product Maturity: Our white-label SaaS platform is operational and currently in use by multiple real clients in realstate, financial protocols, equity, debt…
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Our platform has handled over €16 million in transactions and tokenized more than €5 million in assets. This activity generated over €300K in revenue, and was achieved without any external investment.
A key component of our business is our equity partnership with a licensed securities firm, Alos S.A.V., which manages over €500 million. This relationship provides the necessary regulatory framework to establish an ERIR (registry entity) in Spain, in coordination with financial authorities like the CNMV.
Our progress has been recognized by several institutions in Spain and Europe:
We were selected by Lanzadera (Read more) and were Finalists at SeedRocket (Read more).
We have been accelerated by the law firm Cuatrecasas (Startups Selection,Demo Day) and the Madrid Chamber of Commerce.
Our team has received the "Blockchain Emerging Talent Award" and we are residents at the Google for Startups Campus in Madrid.
Our white-label SaaS platform in use by multiple real clients across the world It is in use by multiple brands and sectors in the market, including Viverent (real state)and Vannilo Holding (debt and equity), demonstrating its real-world applicability.
Case Study: Viverent (viverent.es) (https://polygonscan.com/token/0x204e4de107146d40720c8312816312d4d7371d8f)
While privacy agreements with our financial clients prevent us from disclosing all projects, we can detail the case of Viverent, a public platform that showcases our capabilities.
Viverent is a real estate investment platform focused on the Mexican market. Using our white-label technology, they successfully raised €2.5 million for a development project, demonstrating our ability to handle significant international capital flows.
This project highlights our expertise in managing complex, hybrid financial workflows:
Fiat-to-Token Workflow: Investment capital was collected in Fiat via traditional bank transfers. Simultaneously, our platform minted tokens on-chain that represented each investor's position. These tokens served not as a liquid asset, but as a digital representation of ownership, granting holders the right to receive dividends from the project's profits. This is why the on-chain liquidity does not reflect the capital raised; the tokens are an accounting and entitlement layer, while the capital was deployed in Fiat. All participating investors underwent a full KYC/AML verification process.
Custody Model & Regulatory Compliance: To comply with Spanish regulatory requirements at the time, tokens were initially delivered to a pooled (omnibus) wallet, with the Viverent project itself acting as the custodian on behalf of investors. While every investor retained the right to withdraw their tokens to a personal self-custody wallet upon request, this model provided a simplified user experience and met the prevailing regulatory standards.
Strategic Goal: To de-risk the project by building the most critical piece of infrastructure first: the connection between our existing backend and the Stellar Testnet.
Key Technical Deliverables:
Soroban Integration Module (v1): The core service in our FastAPI backend for signing and submitting transactions to the Stellar Testnet is developed and tested. (Associated with Product: Core Platform Integration).
IdentityRegistry.rs & TrustedIssuers.rs Contracts: The full smart contract suite is coded, unit-tested, and deployed to Testnet. (Completes Product 1: Eara CompliantID).
Native Multisig Account Setup: The 5-of-7 governance account is configured on the Testnet. (Foundational step for Product 3: Eara Secure Custodian).
Measure of Completion: A successful end-to-end demo showing our production backend making an authenticated call to the set_user_profile function on the IdentityRegistry.rs contract deployed on Testnet.
Completion of Tranche 1: 9 weeks from award approval.
Strategic Goal: With the foundational bridge tested, this phase focuses on developing the complete engine for creating and managing assets, including the governance workflow and the initial valuation oracle.
Key Technical Deliverables:
AssetFactory.rs & AssetControl.rs Contracts: The complete tokenization engine is coded, tested, and deployed to Testnet, including the "compliance hook" logic. (Completes Product 2: Eara Regulated Tokenization Engine).
SEP-7 Governance Workflow: The full, end-to-end workflow for proposing and signing administrative actions with the 5-of-7 multisig is implemented and tested. (Completes Product 3: Eara Secure Custodian).
NAVOracle.rs Contract (v1): The initial version of the valuation oracle is deployed on Testnet, capable of ingesting signed data. (Completes Product 4: Eara NAV Oracle).
Measure of Completion: A successful end-to-end test on the Testnet showing an asset being created, its value being reported by the NAVOracle.rs, and a governance action being approved via the full Secure Custodian multisig process.
Completion of Tranche 2: 16 weeks from award approval. We will also test all test all the tech before going audit phase.
Strategic Goal: This final phase is dedicated to production readiness. We will build the remaining advanced features, conduct a comprehensive third-party security audit, and execute a safe, responsible deployment to the Stellar Mainnet.
Key Technical Deliverables:
YieldProcessor.rs Contract: The contract for calculating dividend distributions is developed and deployed. (Completes the Automated Payouts feature).
VirtualWalletManager.rs Contract: The contract for managing internal account balances for the omnibus model is developed and deployed. (Completes the Virtual Wallets feature).
On-Chain Registry Integration: The Horizon API listener service is developed to create the real-time cap table view. (Completes Product 5: Eara On-Chain Investment Registry).
Measure of Completion: A successful completion report from a reputable security audit firm and the deployment of the entire audited product suite to the Stellar Mainnet. Launch of a real regulated project using our new Stellar technology.
Completion of Tranche 3: 24 weeks from award approval.
Eara is built by a team of experienced entrepreneurs and finance professionals, combining deep expertise in blockchain technology, product development, and traditional financial markets. Our goal is to bridge the gap between Web3 innovation and regulatory compliance, creating a seamless ecosystem for real-world asset tokenization.
A team of 6 founders, fully committed to the project, with hands-on entrepreneurial experience and key milestones already achieved.
Tano López - CEO | General Management - Fundraising
Serial entrepreneur, Santander Bank Advisor, university lecturer, and USA university alumnus. Former founder of Caira, an innovative edtech startup that successfully raised multiple funding rounds and secured agreements with 20 of Spain’s most prestigious universities.
Guillermo Urbano - COO | General Management - Product Leader
Software founder, computer engineer, and serial entrepreneur.
Álvaro Urbano - CTO | Product Development - Full Stack Developer
Developed an app with over 15M downloads.
Iván Rubio - CIO | Innovation - Blockchain - Full Stack
Developed an app with over 15M downloads.
Nicolás Martínez - CFO | Finance - Legal Structure
ICEX MBA in International Finance, IEB graduate, and former legal advisor.
Alejandro Risco - CCO | Communication - Marketing - Tokenization
Psychologist, expert in communication and public relations. Leader in tokenomics design and former professor. Author of Escucha, a work featured in Spain’s top bookstores, and a researcher with three published papers in leading Spanish academic journals.
Bringing over 100 years of combined experience in brokerage, trading, and investment management across major financial institutions.
Marco Hernando Boto – 36 years of experience as a broker, trader, and investment manager at Interdin Sociedad de Valores y Bolsa, Banco Madrid, and All Trading Sociedad de Valores y Bolsa.
Hugo Navarro Julvez – 29 years of experience as an investment analyst, trader, and investment manager at Bankia, Interdin Sociedad de Valores y Bolsa, Auriga Securities, and Banco Madrid.
César Valcárcel-Resalt Bedoya – 34 years of experience in capital markets, previously at Gesmosa/Ahorro Corporación Financiera, All Trading Sociedad de Valores y Bolsa, GFI Limited London, Interdin Sociedad de Valores y Bolsa, and Banco Madrid.
Juan Carlos Peón Melón – 37 years of experience as a broker, trader, and financial director at Interdin Sociedad de Valores y Bolsa, Banca Privada de Andorra, and Banco Madrid.
Together, this team blends cutting-edge blockchain expertise with decades of institutional financial experience, positioning Eara as a leader in regulated tokenization.
Alejandro Risco González
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