Kasper
Private ownership of tokenized stocks

Your stocks are on a public ledger. Kasper puts them behind a shield.

On Robinhood Chain, anyone with your address can read your portfolio and every trade. Shield your stocks into one pool, then hold, send and swap them with nothing showing up against your wallet. Dividends keep landing while you are inside.

Not audited yet. No token, no points, no airdrop. Robinhood stock tokens are not offered to US persons.

explorer / address0x7a3F…1c2E
Holds340 NVDAnow
Sold12 NVDA for 25,880 USDGTue 14:02
Paid4.2 AAPL to 0x91d0…4e77Mon 09:15
Swapped1,500 USDG for 2 TSLASun 21:40
Received0.5 SPY from 0x3bC1…a90fFri 17:08
Public
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The problem

A brokerage never showed your statement to strangers. Tokenized stocks put your whole account on a public ledger: what you hold, what you sold on Tuesday, what you paid a contractor, and where the proceeds went.

Who is reading
Your employer

sees the side positions and the size of them.

Who is reading
Your ex

sees the whole account, forever, from one address.

Who is reading
A scammer

sizes up targets by balance before the first message.

Who is reading
A competitor

watches a founder’s wallet and reads the company off it.

How it works

Four actions, in the order you meet them.

1
Put a stock in

Shield

Deposit NVDA, AAPL, TSLA, AMZN, SPY or USDG into the Kasper pool. This step is public on purpose. It waits one hour in a queue, then joins the pool.

SeesYour wallet, the asset, the amount.
HiddenNothing yet. Entry is public by design.
2
Pay someone

Send

Send to a Kasper address, a string starting with kasper1. The recipient gets an encrypted memo only they can read.

SeesThat some amount of that stock moved inside the pool.
HiddenWho sent, who received, how much.
3
Trade inside

Swap

Trade one stock for another, or for USDG. The pool does the trade on Uniswap in its own name.

SeesThe Kasper pool sold 10 NVDA for AAPL.
HiddenWho asked for the trade.
4
Take it out

Unshield

Withdraw to any wallet, including a brand-new one. A relayer sends the transaction so your wallet is never the sender.

SeesThe receiving wallet, the asset, the amount.
HiddenWhich deposit it came from, who held it in between.
Still yours, still earning

Dividends keep landing inside the pool.

Robinhood stock tokens pay dividends by raising a multiplier on the token, not by moving tokens. A shielded note holds raw units, so when the multiplier moves your note is worth more shares without any transaction. Nothing to claim, nothing to reveal.

Read from the chain on 2026-09-09
NVDA 1.000000000

The multiplier read 1.0 a week earlier. A dividend landed, and every raw unit of NVDA on the chain, shielded or not, became worth that much more of a share.

Not a mixer

Private from the public. Not from the law.

Kasper follows the Privacy Pools line of research rather than the mixer model. Every deposit is screened, waits an hour in public, and can only ever be refunded, never seized. Here is the hour.

Public queue00:00
00:00You shieldYour wallet, the asset and the amount are public. The deposit enters the queue.
00:00 to 60:00The screener looksBlocklist, sanctions oracle, whatever provenance analysis it runs. It can say no.
If rejectedRefund, onlyBack to the wallet that deposited. No other destination exists in the code.
60:00It joins the poolThe note is private. From here nobody, including the screener, has a lever over it.

Screened entry

Every deposit is checked against the stock issuer’s blocklist and a sanctions oracle before the pool accepts it.

One hour in public

A deposit sits in a visible queue for an hour. A screener can reject it in that window. After that, nobody has a lever over it.

Refund, never seizure

A rejected deposit goes back to the wallet that made it. There is no other destination in the code. Rejected money never enters the pool.

Screened exit

Withdrawal addresses are checked the same way. A blocked address cannot receive an unshield.

Nobody can, including us

  • Withdraw or move funds inside the pool
  • Freeze a note or pause exits
  • Redirect a refund or a withdrawal
  • Upgrade the contract

The owner can, and that is the whole list

  • List a new stock token
  • Set the queue delay, between zero and 24 hours
  • Pause new deposits

Two keys. One spends. One only shows.

Hand your viewing key to an accountant, an auditor, or a regulator who asks. They see every note you received: asset, amount, when. They cannot move a cent, and they cannot see what you did next unless you show them that too. Privacy from strangers, disclosure on your terms.

SpendingMoves notes. Never leaves your device.Lose it and the notes are gone, like any self-custody wallet.
ViewingDecrypts what you received. Cannot spend.Treat it like a bank statement: fine for your accountant, bad for a group chat.
Addresskasper1… is what people pay you at.Share it freely. It reveals nothing about your holdings.
What it does not protect

Cryptography hides the link. It does not hide a pattern.

The app warns about each of these before you act. We would rather you read them here first.

Limit 1 of 6

Amounts and timing can give you away

Shield exactly 3.14159 NVDA and unshield exactly 3.14159 NVDA a day later, and no cryptography saves you. Same for a withdrawal ten minutes after a deposit while nothing else happened. The app suggests round amounts, warns when an exit matches one of your deposits, and shows recent pool activity so you can decide whether to wait.

Limit 2 of 6

Every transaction names its asset

A private send of NVDA shows up as some NVDA moved, with no sender, recipient or amount. So your crowd is that stock’s notes, not the whole pool. Asset-blind sends are a planned circuit change, not a v1 feature.

Limit 3 of 6

A small pool is a small crowd

Your privacy is the set of notes you could plausibly be spending. Early on that is small. The app shows the set size per asset. The honest fix is time and adoption.

Limit 4 of 6

The swap itself is visible

A private swap shows the pool trading A for B. It hides who. Two unusual swaps in quick succession can still be matched by size.

Limit 5 of 6

The relayer sees your IP

It learns that some connection submitted a proof. It cannot see which note was spent or alter anything. Use any relayer, or run your own.

Limit 6 of 6

Robinhood can pause a token

The issuer’s registry can pause any stock token or block any address, including the pool. That is a property of the tokens, not of Kasper, and it applies to every holder on the chain.

Who it is for

Anyone whose wallet has become a disclosure.

01

Holders

You own tokenized stocks on Robinhood Chain and do not want your portfolio and trades readable by anyone with your address.

02

People paid in stock

Contractors, founders splitting exposure, families. A payment should not double as a public disclosure.

03

Traders

You do not want positions front-run or copied by wallet-watchers.

04

Desks and institutions

On-chain stock exposure without broadcasting the book. Viewing keys and screening are the parts you will read first.

Facts, verified 2026-09-09

What is true today.

ChainRobinhood Chain, chain id 4663. Arbitrum Orbit L2, public since 1 July 2026.
StableUSDG by Paxos, the chain’s native stablecoin.
Launch assetsUSDG · NVDA · AAPL · TSLA · AMZN · SPY
LaterAny of the 194 stock tokens on the chain, as liquidity allows.
QueueOne hour at launch. Capped at 24 hours in the code.
SwapsUniswap v3 and v4. Pool fee of 0.05% or 0.3% plus a relayer fee of a few basis points.
ProofsZero-knowledge, Groth16. One proof per private action, made in the browser.
CustodyNone. No team access to funds. Contracts cannot be upgraded.
StatusLive on Robinhood Chain mainnet. Not audited yet; launched under a published soft cap.
Questions people ask

Straight answers.

Pulled from the docs, word for word where it mattered. If one is missing, ask and it goes in.

No. A mixer takes money from anyone, holds it in a shared pot, and pays out with no questions asked. Kasper screens every deposit, holds it in a public queue for an hour where a screener can reject it (refunding the depositor, not seizing), screens every withdrawal address, and gives you a viewing key so you can show your history to whoever you choose. The privacy is against strangers reading the chain. It is not a way to hide from a subpoena.

Ready when you are

Shield your first stock in three moves.

No account, no form, no email. Connect, pick, shield. Everything after that happens inside the pool with nothing showing up against your wallet.

No token, no points, no airdrop. Robinhood stock tokens are not offered to US persons and neither is Kasper.

1
Connect a wallet

Any wallet on Robinhood Chain. Kasper never holds your keys and never sees your spending key.

2
Pick a stock

NVDA, AAPL, TSLA, AMZN, SPY or USDG, and an amount. Round numbers are harder to trace later.

3
Shield

One hour in the public queue, then the position is yours alone. Send, swap or unshield whenever you like.