This page explains what pre-IPO tokens are on U.CASH, the rights they do and do not carry, and the two confirmations a buyer makes at checkout. It supplements, and does not replace, the Terms of Service and the Tokenized Assets page.
Pre-IPO tokens on U.CASH are Solana tokens issued by PreStocks that provide economic exposure to private, pre-IPO companies such as OpenAI, SpaceX, Anthropic, Anduril, Neuralink, Kalshi, and Polymarket. The issuer states that each token is backed 1:1 by exposure held through a special purpose vehicle. They are not shares, and the referenced companies have not issued, endorsed, or affiliated themselves with these tokens.
A pre-IPO token provides economic exposure only. It carries no ownership, voting, dividend, information, or any other legal right in the underlying company. The value of private companies can fall as well as rise, secondary-market liquidity is not guaranteed, and a total loss of value is possible. These are high-risk assets.
Pre-IPO tokens are not available to U.S. persons or to other ineligible persons. Availability elsewhere is the buyer's responsibility to determine under local law. U.CASH does not verify anyone's jurisdiction or eligibility.
Invoices priced in a pre-IPO token use the token's Solana pool price (Jupiter-routed liquidity), refreshing every few minutes. Because the underlying company is private, the price can trade far above or below any private-market valuation of the company. U.CASH is not a market, a broker, an exchange, or an investment adviser.
When paying in a pre-IPO token on a hosted U.CASH checkout, the buyer confirms two things: first, that they are eligible to receive and hold tokenized assets under the rules of their jurisdiction; second, that they understand the token provides economic exposure only, carries no ownership, voting, or dividend rights, is highly risky, may lose all value, and is not available to U.S. persons. Each confirmation is recorded with the payment reference. These confirmations are statements by the buyer; U.CASH does not provide legal, tax, or investment advice. If you are unsure, do not complete the payment.
Pre-IPO tokens are Token-2022 tokens whose issuer holds administrative powers over the token program, including mint and freeze authorities and transfer controls. These are disclosed, not hidden: the swap interface shows the token's on-chain gate status before a wallet is prompted. U.CASH cannot override issuer controls and does not try to.
U.CASH is a non-custodial payments platform. It does not issue, back, redeem, or custody pre-IPO tokens; it does not operate a securities exchange; and it does not determine who may hold them. Tokens move wallet to wallet on-chain under the issuer's token program rules. Nothing here is an offer of securities.
The issuer may add, pause, or delist tokens at any time; U.CASH tracks the issuer's published token set and reflects those changes operationally. This page may be updated to stay accurate; the version above reflects its current revision.