From Farm to Fintech: The Evolution of Evolution Stables

Evolution Stables is an innovative platform that is revolutionising racehorse ownership by leveraging blockchain technology. In partnership with DSG Group, a New Zealand-based blockchain platform, Evolution Stables is introducing tokenisation to racehorse ownership through digital syndication. This allows for fractional ownership, making racehorse investment more accessible and transparent.

By tokenising racehorse leases, investors can own, trade, and benefit from racehorses in a completely new way. The process is compliant with New Zealand Thoroughbred Racing's regulations, ensuring transparency and security. The integration of Fireblocks, a digital asset management platform, enhances the security and compliance of this initiative.

This ground-breaking partnership paves the way for blockchain technology to modernise racehorse syndication and could extend to global markets. While products and services related to this initiative are undergoing regulatory review, the goal is to expand blockchain adoption in the thoroughbred racing industry.

Bred 4 Sports caught up with Alex Baddeley from Evolution Stables in New Zealand to talk about Evolution Stables.

What gave you the idea of Evolution Stables, and why did you build it?

The idea for Evolution Stables came from a mix of personal experience, passion for racing, and my background in finance and technology.

I was offered shares in two horses—both of which went on to become Group 1 winners. At the time, I passed on the opportunity, and afterward, I kept asking myself: Why didn’t I invest? The answer was simple—I didn’t fully understand how ownership worked, and the process felt restrictive. There was too much uncertainty—how long would I be involved? Could I exit? What control did I actually have?

That moment stuck with me. I’ve always had a love for racing, but ownership felt confusing, outdated, and inflexible. Investors had little control over their stakes, and the long-term commitment made it even harder to get involved.

With my background in finance—where liquidity and structured solutions are standard—and my interest in emerging technology, I saw an opportunity to build something better. Evolution Stables was born from the idea that ownership should be flexible, transparent, and accessible.

This isn’t just about making ownership easier—it’s about reshaping the industry so that more people can experience the excitement of being involved in racing.

Tell us about yourself, your background, and how you got into horse racing.

I grew up on a farm in rural New Zealand, where I learned to appreciate animals and the role they play in daily life. I was lucky enough to have a horse growing up, so I’ve always had a natural admiration for them.

Fast forward a few years—I went on a classic Kiwi OE, spending time in Edinburgh before stopping off in Hong Kong for what was meant to be a six-month rugby season with Valley RFC. That experience turned out to be more than just rugby—it gave me my first real appreciation for the sheer scale of the global racing industry.

I still remember my first night in Hong Kong, heading to training and stepping onto our home ground—right in the middle of Happy Valley Racecourse. Looking up at the massive grandstands and towering city lights, I realised just how big racing really was. It was unlike anything I’d seen in New Zealand.

That moment stuck with me. I already knew how dominant Kiwi horses were on the world stage, but seeing the scale of the industry first-hand made me think:

If you can create a product that transforms ownership, the opportunity is massive.

That thought has driven me ever since.

What is evolution stables and how does it fill the gap in NZ and global racing.

Evolution Stables was born out of personal experience and the opportunity to leverage emerging technology to improve racehorse ownership.

At its core, we’re a digital marketplace, similar to how Uber transformed booking a taxi or how online banking replaced waiting in line at a branch. Just like those industries, we’re removing friction, making transactions seamless, and giving people more control over their experience.

Racehorse ownership has traditionally been slow, expensive, and restrictive, much like how buying shares once required calling a broker, or how banking used to mean standing in a queue to see a teller. Platforms like Sharsies in New Zealand have changed investing, making it accessible and easy—we’re doing the same for racehorse ownership.

Our platform allows owners and investors to list, buy, and sell fractional stakes in racehorses with more flexibility, transparency, and affordability than ever before.

The problem we’re solving:

Traditional racehorse ownership is complicated, expensive, and inflexible. It often requires large upfront investments, long-term commitments, and limited liquidity. That has made it harder to attract new owners, especially younger generations who expect digital, seamless investment experiences.

How Evolution Stables fills the gap:

• Accessibility – Lower entry points and flexible ownership models.

• Affordability – No need for massive upfront investments.

• Liquidity – A marketplace where stakes can be bought and sold.

• Transparency – Full visibility over ownership, transactions, and the racing experience.

• Enjoyment – A seamless, engaging way to experience racehorse ownership.

  
  

We’re bringing racehorse ownership into the digital age, making it as easy as booking a ride, investing in shares, or managing your banking—all from your phone.

Racing needs more owners and investors, and Evolution Stables is making it easier than ever to get involved—both in New Zealand and in major global racing markets.

You were nominated for ‘Innovation Solution of the Year’ at the Web3NZ & Blockchain NZ Awards 2024. Tell us more about this nomination.

To be honest, I was blown away when I found out about the nomination. It was a real honour to be recognised by the Web3 and blockchain community, and I’m incredibly grateful.

A lot of people still find blockchain and Web3 hard to grasp, especially those outside the tech world. While there are some amazing innovations happening in the space, many of them feel abstract or difficult for everyday users to connect with.

What makes Evolution Stables different—and what I think resonated with people—is that we’re using blockchain in a way that’s easy to understand and has a clear, real-world impact. Most people already have a rough idea of how traditional racehorse syndication works. Our Digital-Syndication model builds on that, but in a way that offers more flexibility, transparency, and accessibility through tokenisation.

That tangible, real-world application helps de-mystify blockchain, making it more approachable for people who wouldn’t normally engage with Web3 technology. I think that’s what caught people’s attention and ultimately led to this nomination.

Can you give us a simple way to explain blockchain and the technology behind Evolution Stables?

At its core, blockchain brings efficiency to ownership. Moving to a permission-based token model replaces the burdensome, often paper-based administrative process with a secure, real-time digital system.

In traditional ownership, transactions involve manual checks, approvals, and delays. With permission-based tokens, we streamline this by ensuring that every participant has already completed KYC (Know Your Customer) and AML (Anti-Money Laundering) checks before they can trade. This means that once an owner or investor wants to buy or sell a stake, the transaction can happen instantly—with full security and transparency.

Think of it like a club membership—you can’t access the marketplace unless you’ve met all the security and compliance checks upfront. That way, every transaction is fast, safe, and hassle-free.

To put this into perspective—when I worked in finance, Foreign Exchange (FX) Option trades required multiple layers of verification before settlement. Even after two parties agreed on a trade, they still had to: check each other’s credentials, verify credit limits and complete compliance reviews.

Only after all of that could the transaction be finalised, and even then, it took T+2 days for settlement. Benefits of the permission-based token approach include:

• Instant – No waiting days for approvals and settlement.

• Fully Compliant – Only verified owners can access the marketplace.

• Seamless – Ownership transfers happen securely in real time.

  
  

This isn’t just digitising ownership—it’s fundamentally improving how racehorse ownership works.

How and why is this the future of syndications?

Digital syndication is built for the modern investor. Whether it’s managing your bank account, booking a doctor’s appointment, or hailing a ride with Uber, people now expect to handle everything digitally, instantly, and from the palm of their hand. Racehorse ownership should be no different.

Beyond accessibility, people want a deeper connection to the sport—and there’s no greater connection than being an owner. Traditional syndication models made ownership complicated and out of reach for many, but digital syndication removes those barriers and puts ownership in the hands of more people.

Here’s why this model is the future:

• More access to ownership – Investors can tailor their ownership experience, choosing the duration and level of involvement.

• Lower barriers to entry – No need for large upfront investments or long-term commitments.

• Stronger connection to racing – Owners get real-time updates, insights, and a front-row seat to their horse’s journey.

• Future-proofing the industry – Engaging new audiences ensures racing continues to thrive.

• This isn’t just about making syndication easier—it’s about reshaping ownership to fit the way people invest, engage, and connect with racing today.

How will Evolution Stables impact existing industry participants who aren’t necessarily tech-focused?

There’s something for everyone in what we’re building. Increased engagement leads to increased demand, and that demand isn’t just digital—it has a knock-on effect across the entire industry.

Rather than competing with traditional syndicators, Evolution Stables complements existing ownership models by bringing in new participants who might not have considered ownership before. More owners mean more investment in horses, more syndicate opportunities, and a stronger racing ecosystem overall.

Even for those who don’t directly adopt digital syndication, they’ll still benefit. With lower barriers to entry and increased liquidity, more people will enter the ownership market, creating greater competition and ultimately driving up the value of horses.

We’re also seeing the emergence of a new breed of bloodstock agents, focused on catering to a digital-first client base. This opens up new sales channels and opportunities for trainers, syndicators, and breeders alike.

At the end of the day, Evolution Stables isn’t here to replace traditional ownership—it’s here to enhance and expand it, ensuring a more vibrant and sustainable future for the industry.

How does Evolution Stables differ from other offerings?

We see Evolution Stables as a digital enabler, not just a platform. We provide the toolkit for owners and syndicators, giving them the infrastructure and flexibility to structure ownership in a way that suits their needs.

Rather than dictating a one-size-fits-all model, we offer a framework that adapts to different ownership structures. Owners can set their own parameters—whether it’s short-term leases, structured syndicates, or fractional shares—while investors gain full transparency and choice over their involvement.

What makes Evolution Stables different is who it empowers:

• Owners & Syndicators Stay in Control – We provide the digital infrastructure, but owners decide how they structure ownership and engage investors.

  
  

• Flexible Investment Options – Investors get real choice, with clear terms, structured opportunities, and full visibility into what they’re buying into.

  
  

• A Marketplace That Works for Everyone – Instead of locking people into rigid syndicates, we give owners the tools to create offerings that attract and retain investors, helping the industry grow.

  
  

• Transparency at Every Step – Investors have full visibility over ownership terms, fees, and returns, making racehorse investment as clear and informed as any other asset class.

  
  

This isn’t about Evolution Stables as a platform—it’s about owners and investors having the tools to structure ownership in a way that works for them. We’re enabling the next evolution of racehorse ownership, not replacing it.