Fairmint CEO Joris Delanoue is warning of a structural crisis risk in the tokenized stocks sector, drawing a parallel to the back-office collapse on Wall Street in the 1960s. Back then, NYSE daily volumes surged from 5 million to 12 million shares, causing cascading settlement failures and broker closures. Delanoue argues that today’s private equity markets suffer from the same ailments: fragmentation, illiquidity, and heavy reliance on centralized intermediaries not designed for high-throughput digital transactions. To address this, Fairmint positions itself as the first fully onchain-native SEC-registered transfer agent, with its Open Cap Table Protocol administering over $1.6 billion in equity value across more than 180 issuers and funds on the Canton Network. In December 2025, Delanoue was elected General Director of the Canton Foundation, joining leadership alongside representatives from major institutions like DTCC and HSBC.
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