Pulley Equity and Token Operations

This points to a bigger prize than cap table software alone. Once a crypto company uses one system to track who should get shares, who should get tokens, when those tokens unlock, what tax to withhold, and which custodian wallet should send them, the buyer often shifts from a narrow legal or finance tool budget into a broader operating budget that covers treasury, payroll, compliance, and token launch execution.1 2 3 4 5

• Pulley built that bridge directly into token ops. Its token product combined token cap tables, side by side equity and token records, custodian integrations with providers like Coinbase, BitGo, Anchorage, and Fireblocks, payroll sync for withholding, and holder portals showing vesting, lockups, and distributions.1 2 3 4
• That changes the day to day workflow. A normal equity platform mostly stores ownership records and board approvals. A token admin system also has to prepare wallet level distributions, verify unlock schedules, import tax data, and push final releases through a custodian, which pulls in treasury and payroll teams as active users.3 4 5 6
• The closest comparable is Carta on equity infrastructure, but Pulley tried to extend into a more crypto specific operating layer. LayerZero used it as a single ledger for both equity and token ownership, which shows why combined records can matter most for token issuers with employee grants and ongoing distributions.2 7 8

The category is heading toward systems that sit between the company ledger, payroll stack, and custodian wallets. If a provider can reliably run that handoff, it captures a more durable role in token operations than a cap table alone, because it becomes part of the monthly process of paying, locking, unlocking, and delivering ownership.1 3 4 5