Metal DAO
MTLInfrastructure · Built in San Francisco, CA · Metallicus, Inc.
$0.2823
3.88% up24h
Under editorial review since 2026-09-14
Test 3 rests on 2019–2020 private litigation over Metal sales. Replace or confirm it with Metallicus's money-transmitter licence record (NMLS ID 2057807; the NMLS site blocked automated retrieval) or other regulator records, and confirm whether Metal DAO has any legal wrapper that controls MTL.
Price
Why it’s on the board
Pathway: US operating company. Needs Tests 1 and 4, plus 2 or 3.
Test 1 · passes on primary documents
Headquartered in the United States
Metallicus, Inc. is headquartered in San Francisco, CA.
1 source· 1 primary
- Legal termsmetalpay.com/privacy-policy2026-09-14
Test 4 · passes on primary documents
Registered in a US state
Metallicus, Inc. is registered in DE.
1 source· 1 primary
- Legal termsmetalpay.com/privacy-policy2026-09-14
Test 2 · not met
American founding team
0 of 2 named founders are established US persons holding operational roles today; a majority is required.
Test 3 · passes on primary documents
Primary operations in the United States
Metallicus, Inc. was a defendant in Kliebert v. Metallicus, Inc. (S.D. Tex., No. 4:19-cv-2250), in which Texas purchasers of Metal brought Texas Securities Act and fraud claims over tokens bought from Metallicus.
1 source· 1 primary
Legal entities
Metallicus, Inc.
Delaware · operating company, token issuer · San Francisco, CA
3 sources· 3 primary
- Legal termsmetalpay.com/privacy-policy2026-09-14
- Legal termsmetalpay.com/terms2026-09-14
- Courtgovinfo.gov/content/pkg/USCOURTS-txsd-4_19-cv-02250/pdf/USCOU…2026-09-14
Founders
Marshall Hayner
Co-Founder & CEO, Metallicus · US status not established · operating role today
1 source
- Projectmetallicus.com/company/meet-the-team2026-09-14
Glenn Mariën
Co-Founder & CTO, Metallicus · US status not established · operating role today
1 source
- Projectmetallicus.com/company/meet-the-team2026-09-14
Regulatory posture
Court
Kliebert v. Metallicus, Inc. (S.D. Tex., No. 4:19-cv-2250): purchasers alleged Texas Securities Act, deceptive trade practices and fraud claims over sales of Metal. In April 2020 the court dismissed the claims against the promoter defendants for lack of personal jurisdiction; this record does not show the outcome for Metallicus.
1 source· 1 primary
Record history
2026-09-14 · review opened
Review opened to replace litigation-based Test 3 evidence with Metallicus's state licence records and to confirm Metal DAO's legal form.
2026-09-14 · listed
Listed after the 2026-09-14 coverage review: MTL was created by Metallicus, Inc., a Delaware corporation headquartered in San Francisco, with US court records of its token sales.
About Metal DAO
MTL is the token of the Metal ecosystem built by Metallicus, Inc., a Delaware corporation headquartered in San Francisco that operates Metal Pay as a licensed money transmitter. Metallicus describes Metal DAO, founded in 2017, as the MTL token holders who vote on decisions across the Metal protocol.