RCA Pad
VELMVellum Protocol8,420 waitlistKITEKite Ledger2,190 waitlistPLSDPalisade ID1,640 waitlistNRTLNorthlineDay 8 of 14SABLSable RailDay 5 of 14QULLQuill MarketsDay 11 of 14CDWLCinder Well6,947 waitlistHRTNHartline8,787 waitlistOBSNObsidian Rail4,416 waitlistFENLFen Clearing1,060 waitlistLUMNLumen Books5,510 waitlistRDCTRedact ID6,485 waitlistHRBNHarbor NAV6,973 waitlistQLTDQuilt1,876 waitlistNMBMNimbus Match7,864 waitlistBRASBrass4,166 waitlistSLSTSolstice Credit9,342 waitlistWLTRWillow Transfer7,031 waitlistEMBREmber Registry2,487 waitlistNQAYNorth Quay2,013 waitlistKLNSKiln4,412 waitlistGLSHGlass HouseDay 8 of 14IRNPIron PierDay 1 of 14PLFRPale FireDay 3 of 14VELMVellum Protocol8,420 waitlistKITEKite Ledger2,190 waitlistPLSDPalisade ID1,640 waitlistNRTLNorthlineDay 8 of 14SABLSable RailDay 5 of 14QULLQuill MarketsDay 11 of 14CDWLCinder Well6,947 waitlistHRTNHartline8,787 waitlistOBSNObsidian Rail4,416 waitlistFENLFen Clearing1,060 waitlistLUMNLumen Books5,510 waitlistRDCTRedact ID6,485 waitlistHRBNHarbor NAV6,973 waitlistQLTDQuilt1,876 waitlistNMBMNimbus Match7,864 waitlistBRASBrass4,166 waitlistSLSTSolstice Credit9,342 waitlistWLTRWillow Transfer7,031 waitlistEMBREmber Registry2,487 waitlistNQAYNorth Quay2,013 waitlistKLNSKiln4,412 waitlistGLSHGlass HouseDay 8 of 14IRNPIron PierDay 1 of 14PLFRPale FireDay 3 of 14
Board

MAPJ

In market
HOT WINDOWAttestations

Maple Kiln

Skip it and you read a PDF. Counterparties who matter will have already called.

If this pad disappeared tomorrow, the customer could still run the job. That is why they are here.

Maple Kiln — An attestation graph: a fund or investor proves one fact (accredited, name, share-class) to a transfer agent or administrator without handing over the whole file. Selective disclosure is the product.

Live campaign. 5,894 on the product waitlist — that is demand, not an allocation.

Most Attestations applications this quarter were declined. You are looking at one that was not.

Diligence, not a prospectus. RCA Pad does not allocate, take orders, or close funding. If this company raises, it raises with its own counsel.

Waitlist

0

Window

Closed

Heat

0/99

Inbound / wk

0asks

Asking now

0live

Named pilots

0

Redacted on the public page

Live nodes

0

W3C attestations

Counsel hours

0

Mumbai · counsel-named

Sentences killed

0

Before listing

Claims live

7/8

Growth

Our cut

0%

Of any proceeds

Plate Ledger · 2070

MAPJ

The plate

Ledger. Edition 2070.

A unique plate for Maple Kiln. Geometry, orbit, and edition belong to this company — no other listing on the board shares it.

MAPJ · Mumbai · Attestations

Score

0

Desk diligence

Pilots

0

Named, redacted

Waitlist

0

Product demand

HQ

Mumbai

Fund administrators

Sells

Per-onboarding

Per-onboarding event

Markets

0

Mumbai

Years

0

Founded 2021

Surfaces

0

W3C attestations

Complete

0

File readiness

The wedge

Per-onboarding event

The wedge is repeating KYC at every gate of the same allocator.

Why the desk took it

A real job, not a ticker.

US retail identity was taken off before we asked.

Traction

4 named pilots (redacted).

Founded 2021, headquartered in Mumbai. 4 named pilots on file (identities redacted in public). 5,894 on the waitlist, gated — product demand, not a book built. 13 nodes or connected surfaces reported. Desk diligence score 88/100. Two licensed PSPs on a paid pilot — identities off the public file. Architecture says keys / title / NAV liability sit with a named licensed party — not Maple Kiln.

Next 12 months

Liability sentence in writing: who is wrong when a fact is wrong.

Jumio does not speak share-class. Seat plus event. If they ever attach a token as the unit of account, the file stops.

The brief

How a serious reader should hold this.

Someone in Mumbai already renewed a slower vendor this year. Maple Kiln is the conversation that happens before they do it again. Miss this cycle and you explain the next one.

If you leave this page without opening the claims table, you have read marketing. The scarce version of Maple Kiln is the version that survives counsel. It is on a clock.

The auditor of a redacted pilot has seen a dual-record. Switching away now means a new auditor conversation. That is the switching cost — not the logo.

From the screen

A dual-control drill exists on paper. Production evidence is the next artefact, not a tweet.

From the pilot

US persons are outside the audience. A form that asks “are you accredited?” without verification is not an exemption.

From ops

Fixed fee. Deposit to start. 0% of proceeds. Token-only pay is declined. Percentage of raise is declined.

The window

Miss this and you read the archive.

When the heat drops, the named customer is still named — they just stop taking new calls.

The comment period is not a path. This company is priced as if that is already true.

The scarce thing is not the company. It is the next a few days of a live conversation.

Window

Closed

Closed. History only — not a place to buy.

Sentences killed
9
Counsel hours on file
47
Asks / week
737
Our cut
0% of proceeds

We did not come here to sell a token. We came here so a named customer could read a pack that survives counsel.

Amira Nair, Chief executive

This company

Maple Kiln

Not the incumbent brand. Maple Kiln sells the job the brand will not staff.

In the same conversation

  • Onfido / Jumio for people
  • Fund-admin KYC teams
  • W3C attestations
  • Not a ‘passport token’

The bet

Why this company exists.

The wedge is repeating KYC at every gate of the same allocator.

The wedge is repeating KYC at every gate of the same allocator.

Transfer agents and AIFMs are being asked for faster onboarding without becoming identity companies. Attestations they can revoke are the compromise.

Fund onboarding cost is a known line item. A 20–40% cut in cycle time is a budget, not a vision deck.

Versus the field

The incumbent brand sells the relationship. Maple Kiln sells the job the brand will not staff. A protocol pitch is the thing this company has already refused. Open-source looks free until the auditor asks who attests.

The live path is Mumbai · counsel-named. Proposed Regulation Crypto Assets is not treated as a calendar slot. Build as if it never opens.

How it works

  1. 01A fact is attested by a party the recipient already trusts
  2. 02The holder discloses only the field requested
  3. 03The rest of the file stays dark
  4. 04Revocation is a first-class event
  5. 05The recipient never sees the rest of the file — selective disclosure is enforced, not promised
  6. 06Kill of a public sentence is an hour, not a committee.

In the same conversation as

  • Onfido / Jumio for people
  • Fund-admin KYC teams
  • W3C attestations
  • Not a ‘passport token’

If they raise

Where the money would actually go.

Not a token float. A budget against work. RCA Pad still takes 0% of proceeds.

  • Named operators

    40%

    A counsel memo that can survive a later reader.

  • Control environment

    28%

    Dual-control drills, key ceremonies, and the person who owns them.

  • Counsel & perimeter

    18%

    Hiring the operator who already does this job at a licensed firm.

  • Certifications & adapters

    14%

    Keeping the public story from running ahead of the claims register.

Operating week

What “in market” actually looks like.

  1. MonClaimsEvery public sentence checked against the register. Anything extra is unpublished.
  2. TueExceptionsOvernight breaks post back into the customer’s case system. No side book.
  3. WedCounselPerimeter diffs. If the site drifted from the memo, the site moves — not the memo.
  4. FriKill switchRehearse unpublish in 24 hours. If it takes a committee, it is not a switch.

The wedge

Why this one, not the other one.

They sell
Per-onboarding event
Who pays
Two licensed PSPs on a paid pilot — identities off the public file.
Unit economics
Seat plus event. If they ever attach a token as the unit of account, the file stops.
Moat on file
Revoke has been tested against a live register.
Switching cost
Scheme maps, ISO, LMA language, registry adapters — eighteen months of unglamorous work.
Vs the comps
Jumio does not speak share-class.
Why we listed it
US retail identity was taken off before we asked.

Next twelve months

What has to be true.

Liability sentence in writing: who is wrong when a fact is wrong.

Architecture says keys / title / NAV liability sit with a named licensed party — not Maple Kiln.

They have not asked us to run a sale. That ask would close the file.

Traction

What you can verify today.

Founded 2021, headquartered in Mumbai. 4 named pilots on file (identities redacted in public). 5,894 on the waitlist, gated — product demand, not a book built. 13 nodes or connected surfaces reported. Desk diligence score 88/100. Two licensed PSPs on a paid pilot — identities off the public file. Architecture says keys / title / NAV liability sit with a named licensed party — not Maple Kiln.

  • Operating notes for W3C attestations
  • No token contract listed as a public sale
  • Pilot letters on file, identities redacted
  • Mumbai is the operating centre
  • The waitlist, if any, is a product list — not a book
  • RCA Pad does not take a cut of proceeds

Readiness

Six things a serious buyer asks. 100 is “ready to take to counsel and a customer.”

  • Product70
  • Customers96
  • Legal path84
  • Tech maturity85
  • Demand69
  • Market access44

Risks

What can kill it.

The one that actually kills it

A second geography without a lock

Extending the record into a market that is still restricted is how a clean Mumbai story becomes a fact pattern. The restricted list exists for a reason: EU retail, United States.

Who attests

If the attester is the company itself, this is a database with extra steps.

Portability theatre

A graph nobody else reads is a PDF with a hash.

US

US retail identity products are a different statute. Many of these files keep the US off.

Utility token

Paying for attestations in a native token is usually a securities problem in costume.

Self-attestation

If Maple Kiln is the attester, this is a database with extra steps. The graph only matters if someone else signs.

Single-customer gravity

If the first named buyer is also the only buyer, Maple Kiln is a services shop with a ledger. Ask for the second.

Ask these next

  1. 01If RCA Pad disappeared tomorrow, could the customer still run the job?
  2. 02Who is the first named paying customer — not a letter of intent?
  3. 03Who can unpublish a public sentence in 24 hours, by name?
  4. 04Has counsel written the perimeter in a memo you can file?
  5. 05What happens if a founder later wants a public token?
  6. 06Is the waitlist demand for a product, or a queue for a coin?

Structure

How money would actually move.

If this company raises, it raises with its own counsel and providers. The waitlist is a product list. It is not a round, a book, or an allocation on RCA Pad. We do not take a cut.

Entity
Maple Kiln Ltd
Path on file
Mumbai · counsel-named
Posture
No public sale
Pack
Growth

Where they can operate

Named vs off-limits.

Named markets are where a sentence is allowed. Restricted is where it is not. This is not a worldwide offering.

  • Mumbainamed
  • EU retailrestricted
  • United Statesrestricted

Team

Who runs it.

  • Amira NairChief executive
  • Marcus IbrahimMarkets

Stack

  • W3C attestations
  • Attestations
  • Disclosure templates
  • Approval trail

Named with them

  • Northbridge Counsel
  • Helix Audit

Who can decide

Amira Nair (Chief executive) will take a 30-minute call and decide budget. If the only person who can accept “we are not opening a sale” is a silent co-founder in another time zone, this company would not be on the board.

A second counterparty writing into the record is the only network effect that counts. One customer is a consultancy. Two is a market.

Claims with evidence

Statements with evidence.

StatementEvidenceStatus
Maple Kiln does not sell a token to the public on this padPosture locklive
The product is attestations sold to institutionsArchitecture + customer typelive
W3C attestations is the method — not a listed assetDesk snapshotlive
Retail buyers are out of scopeNamed markets locklive
Any raise completes with the issuer’s counsel and providers — not on RCA PadFixed-fee termslive
Production date for the chain layer is not committedNo board minutedraft
No public token is sold on this padEngagement terms + posture locklive
Customers contemplated: MumbaiNamed markets on the filelive

On the record

  1. Sprint packPackJun
  2. Counsel lockPathJul
  3. Claims register liveRegisterAug
  4. Creator briefBriefSep

Operating log

  1. 11 Sep 09:39

    Takedown SLA idle-tested.

  2. 08 Sep 11:40

    A claim held for missing evidence.

  3. 04 Sep 08:22

    Weekly report issued to the desk.

  4. 01 Sep 14:08

    Creator set on disclosure. No buy language.

Path to now

  1. Sprint

    Pack accepted

    Narrative, matrix, claims locked.

  2. Path

    Counsel names it

    Or the file stays not-offering.

  3. Live

    Campaign

    Waitlist and register. No purchase journey.

Not a subscription

This is not a sale page.

If this company raises, it raises with its own counsel and providers. The waitlist is a product list. It is not a round, a book, or an allocation on RCA Pad. We do not take a cut. Founders who want a pack like this one apply. Readers who want the company talk to the company — not to this pad.

Launch your own How an RCAICO works

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