Zhibao's On-Chain Shares: A DeFi Compliance Preview
Zhibao Technology and Bedrock have entered a non-binding framework agreement to explore the tokenization of Zhibao’s Class A ordinary shares on-chain. The proposed model aims to preserve shareholder rights, including voting and dividends, by utilizing permissioned DeFi protocols that enforce compliance through smart-contract-level transfer restrictions. Only KYC-verified wallets would be permitted to interact with these tokens, addressing regulatory concerns regarding pseudonymity and anti-money laundering requirements. Additionally, the agreement contemplates deploying 2,380 BTC from Zhibao’s treasury into Bedrock’s uniBTC liquid restaking protocol under institutional custody. This initiative serves as a significant case study for the 2026 DeFi regulatory landscape, testing whether public companies can maintain regulatory standing while utilizing decentralized infrastructure. The project highlights the growing necessity for integrated fiat-crypto platforms, such as OneSafe, to manage the complexities of tokenized dividends and treasury operations. A definitive partnership remains subject to regulatory, audit, and board approvals within a 12-month window.
