SettleMint vs Spydra
Spydra lowered the barrier to tokenization. DALP raised the ceiling.
Spydra is a credible early-stage tokenization platform with Hyperledger Fabric as its core and OpenRWA as its newer public chain offering. Hitachi Payment Services invested in February 2025, validating enterprise interest. But $511K FY2024 revenue, three named customers, and $1.86M in total funding reflect an India-focused early-stage business. DALP is EVM-native, globally deployed at regulated financial institutions, with the full enterprise lifecycle stack that banks running actual tokenization programs require.
Feature Comparison
DALP vs Spydra: What's included
| Dimension | DALP | Spydra |
|---|---|---|
| Platform type | Enterprise lifecycle platform for digital securities on EVM chains (Hyperledger Besu, Ethereum) | Low-code enterprise tokenization on Hyperledger Fabric (private) with newer EVM public chain offering (OpenRWA) |
| Blockchain | EVM-native: Hyperledger Besu, Ethereum, and EVM-compatible networks. Open standard | Primary: Hyperledger Fabric (permissioned, non-EVM). Secondary: EVM public chain via OpenRWA (launched Jun 2025) |
| Asset coverage | 7 templates: bonds, deposits, stablecoins, equity, funds, real estate, precious metals | Real estate, commodities, funds, equity, and other asset classes. Template depth and post-issuance automation partially documented |
| Compliance model | Ex-ante ERC-3643 with 12 compliance module types. OnchainID identity layer | ERC-3643 support for compliance tokens. KYC/AML processes. Compliance is platform-level, not licensed infrastructure |
| Settlement | Atomic DvP/XvP via HTLC hashlock. Both legs complete or both revert | Not publicly documented. Settlement model unclear |
| Custody | Fireblocks, DFNS integration. HSM compatibility, weighted multisig vaults, RBAC/ABAC | No documented enterprise custody integration. Wallet-less onboarding (Jan 2026) uses custodial wallet approach |
| Deployment model | Cloud, on-premises, hybrid, air-gapped. Full data residency via Kubernetes/Helm | Cloud-agnostic Hyperledger Fabric deployment. On-premises options implied. Air-gapped not documented |
| Observability | VictoriaMetrics, Loki, Tempo, 21 Grafana dashboards, 298 CLI commands | Maker-checker governance and audit trail depth not publicly documented |
| Scale / funding | Institutional deployments at regulated banks globally | $1.86M funding, $511K FY2024 revenue, 3 named customers (Raymond, leading Indian lender, Maahi Ghee). India-focused commercial traction |
| Developer tooling | 298 CLI commands, REST APIs, workflow engine, webhook event system | REST APIs, low-code/no-code interface, pre-built templates. SDK and documentation depth not publicly verified at enterprise scale |
Why Choose DALP
3 Reasons Regulated Institutions Choose DALP Over Spydra
Spydra's low-code approach reduces tokenization complexity. DALP's enterprise depth delivers the full institutional capability set beyond simplicity.
Spydra was built on Hyperledger Fabric (non-EVM, permissioned) with an EVM extension added via OpenRWA in June 2025. DALP is built ground-up for EVM: Hyperledger Besu, Ethereum, and any EVM-compatible network. EVM-native means the full ERC-3643 compliance stack, atomic settlement, and ecosystem tooling are first-class, not a later addition.
Spydra has $1.86M in total funding, $511K FY2024 revenue, three named customers, and primarily India commercial focus. DALP has institutional deployments at regulated banks globally. Scale matters when regulated banks evaluate vendor viability in procurement.
DALP integrates with Fireblocks and DFNS for institutional custody with HSM compatibility and weighted multisig vaults. Atomic DvP/XvP settlement via HTLC hashlock is live. Spydra's custodial wallet (Jan 2026) reduces friction for retail onboarding but is not enterprise institutional custody. Settlement mechanics are not publicly documented.
Key Differentiators
What DALP adds beyond low-code tokenization
EVM-native platform: full ERC-3643 compliance, atomic settlement, and ecosystem tooling as first-class capabilities
Enterprise custody: Fireblocks, DFNS, HSM compatibility, weighted multisig vaults, RBAC/ABAC
Atomic DvP/XvP settlement with HTLC hashlock: both legs complete or both revert
12 compliance module types with ex-ante ERC-3643 and OnchainID identity
298 CLI commands and 21 Grafana dashboards for operational control
Global institutional deployments at regulated banks and financial institutions
Frequently Asked Questions
Spydra is a low-code tokenization platform built on Hyperledger Fabric with an EVM extension via OpenRWA. DALP is an EVM-native enterprise lifecycle platform with institutional deployments at regulated banks globally, full compliance modules (ERC-3643), atomic DvP/XvP settlement, and enterprise custody integration. Spydra is earlier-stage with India-focused commercial traction; DALP serves global regulated institutions.
Spydra launched OpenRWA in June 2025 as an EVM public chain offering. Its primary platform is Hyperledger Fabric (non-EVM). DALP is EVM-native from inception: Hyperledger Besu, Ethereum, and any EVM-compatible network with full ERC-3643 compliance as a first-class feature.
DALP integrates with Fireblocks and DFNS for institutional custody with HSM compatibility, weighted multisig vaults, and RBAC/ABAC access controls. Spydra's January 2026 wallet-less onboarding uses a custodial wallet approach for user accessibility, which is designed for retail/mid-market use cases rather than institutional custody requirements.
Yes. DALP includes XvP and DvP atomic settlement via HTLC hashlock: both asset and cash legs complete together or both revert. Spydra's settlement mechanics are not publicly documented.
Spydra has $1.86M in total funding, $511K FY2024 revenue, and three named customers (Raymond, a leading Indian lender, and Maahi Ghee). Its commercial traction is primarily India-focused at early stage. DALP has institutional deployments at regulated banks globally.