"The book only I could write — because I've spent 8 years doing the thing most people only theorize about."
Dave Hendricks is the CEO of Vertalo, a SEC-registered transfer agent and the leading digital transfer agent for tokenized securities. In March 2018, Vertalo closed what is believed to be the first natively tokenized Reg D/S security offering in the United States — years before BlackRock or Franklin Templeton arrived.
Since 2016, Dave has worked with 100+ issuers, facilitated transactions for 100,000+ investors, and managed 300,000+ securities lots. Vertalo is backed by Coinbase Ventures, Shasta Ventures, and CMT Digital. The Token Playbook is Dave's independent editorial platform, published under RWABTC Ltd Co.
This is not a book about tokenization hype. It is a practitioner's guide built on institutional memory, hard-won operational experience, and a clear-eyed view of what actually works — and what doesn't.
- Securities lawyers navigating digital asset compliance
- Issuers evaluating tokenization for their offering
- Transfer agents modernizing their infrastructure
- Registered Investment Advisers (RIAs) with digital asset clients
- Bankers and institutional capital allocators
- Sophisticated investors in private markets
- Fund administrators and operations professionals
- Builders and developers working on regulated DeFi
- Anyone writing a check or signing a tokenization contract