Hecto launches $NEOPRIME, first tokenized pre-IPO exposure token on Canton Network
Hecto has launched its first private market exposure (PMX) token, $NEOPRIME, on the Canton Network, marking a significant step in bringing late-stage private equity onchain. The tokenized debenture provides investors with contractual creditor rights against a special purpose vehicle holding shares in a curated basket of high-growth American industrial companies, including Anduril, Figure AI, and The Boring Company. Unlike static wrapper tokens that often trade at significant premiums, $NEOPRIME utilizes a minting mechanism that allows eligible parties to increase supply when demand exceeds net asset value, effectively curbing price drift. The underlying assets are restricted to pre-IPO companies valued at over $1 billion with verified pricing data, ensuring the token represents genuine, backed exposure rather than synthetic derivatives. By leveraging the institutional-grade privacy and compliance features of the Canton Network, Hecto aims to democratize access to private markets that were previously reserved for venture funds and wealthy insiders. This launch establishes a new infrastructure model for pre-IPO assets, where realized value from IPO exits is returned to holders through share buybacks. The initiative highlights the growing trend of institutional firms utilizing private blockchains to bridge the liquidity gap between private and public market valuations.
