The wedge
Offtaker portal
A national registry as counterpart is the whole company.
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
QUIQ
Screened
SCREENEDEnergy certificatesQuince Holt
A named Madrid buyer is on the record. You are still reading the public page.
Pilots are named and redacted. The waitlist is not. a short list people already asked.
Quince Holt — A ledger of energy certificates (GOs, RECs) for producers and offtakers who already sit in a national registry. It moves the event faster. It does not invent a green token for Twitter.
Screened, not yet in sprint. Treat every number as provisional. Calendar access is not automatic.
The named customer already picked. The waitlist is everyone who was late to that fact.
Diligence, not a prospectus. RCA Pad does not allocate, take orders, or close funding. If this company raises, it raises with its own counsel.
Stage
upcoming
Window
0days
Heat
0/99
Inbound / wk
0asks
Asking now
0live
Named pilots
0
Redacted on the public page
Live nodes
0
Certificate ledger
Counsel hours
0
Not offering — locked
Sentences killed
0
Before listing
Claims live
1/7
Sprint
Our cut
0%
Of any proceeds
Plate Vault · 6153
QUIQ
The plate
Vault. Edition 6153.
A unique plate for Quince Holt. Geometry, orbit, and edition belong to this company — no other listing on the board shares it.
QUIQ · Madrid · Energy certificates
Score
0
Desk diligence
Pilots
0
Named, redacted
Stage
upcoming
upcoming
HQ
Madrid
Producers
Sells
Offtaker
Offtaker portal
Markets
0
Madrid
Years
0
Founded 2023
Surfaces
0
Certificate ledger
Complete
0
File readiness
Why the desk took it
Early — still a question.
Registry cooperation is in writing, even if early.
Traction
One named pilot (redacted).
Founded 2023, headquartered in Madrid. One named pilot on file (redacted in public). 3 nodes or connected surfaces reported. Desk diligence score 75/100. A transfer agent willing to consume a revoke in production. Counsel is named, even if the memo is still a draft. Unnamed counsel is how files die.
Next 12 months
Counsel on commodity vs software — one memo.
Xpansiv is a market. This is the event under a registry. Annual software against an ops cost the board can see. Switching cost is the record, not the brand.
The brief
How a serious reader should hold this.
The decline pile in Energy certificates is not a rumour. It is how this board stays readable. Quince Holt is what survived. That is the sell.
The bet is narrow. A named Madrid buyer already has budget for this invoice. Quince Holt wins if it is cheaper than the internal build and cleaner than the protocol pitch. It loses if a founder later wants a public book. The window is the time you have to decide which it is.
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 counsel
US persons are outside the audience. A form that asks “are you accredited?” without verification is not an exemption.
From the screen
Fixed fee. Deposit to start. 0% of proceeds. Token-only pay is declined. Percentage of raise is declined.
From ops
The legal source of truth stays with the incumbent register, admin, or custodian. Quince Holt does not attest to its own facts.
The window
Miss this and you read the archive.
A later reader gets the same PDF. They do not get the same access.
A supervisor is already forcing a perimeter. Houses that pick software over a coin will buy this now.
Read it once, properly, while the number is still green. Then decide.
Window remaining
0days
When this window closes, the campaign is archive.
- Sentences killed
- 14
- Counsel hours on file
- 12
- Asks / week
- 9
- Our cut
- 0% of proceeds
Our TAM is an invoice the customer already pays. A coin would not make it larger. It would make the licence harder.
This company
Quince Holt
The copycats will arrive after certification. That is why the window is now.
In the same conversation
- National GO registries
- Xpansiv
- Not a public carbon coin
The bet
Why this company exists.
A national registry as counterpart is the whole company.
A national registry as counterpart is the whole company.
Corporate offtakers are being asked to prove what they bought. Registries lag. A dual record that the registry still owns is sellable.
GO and REC markets are measured in tens of billions. Ops software is a thin slice with high switching costs.
Versus the field
The incumbent brand sells the relationship. Quince Holt 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.
Madrid being the city does not make local retail a default audience. Communications capable of inducing investment activity still have a promotions problem.
How it works
- 01A certificate that exists in a registry is evented here
- 02Delivery and retirement are visible to the offtaker
- 03The registry remains the legal source
- 04No public ‘carbon token’ sale on this pad
- 05Delivery and retirement are visible to the offtaker; the registry remains source
- 06Kill of a public sentence is an hour, not a committee.
In the same conversation as
- National GO registries
- Xpansiv
- Not a public carbon coin
If they raise
Where the money would actually go.
Not a token float. A budget against work. RCA Pad still takes 0% of proceeds.
Second market
29%
The remaining certifications and the second named market.
Named operators
22%
Dual-control drills, key ceremonies, and the person who owns them.
Claims & campaign ops
21%
Keeping the public story from running ahead of the claims register.
Control environment
28%
A counsel memo that can survive a later reader.
Operating week
What “in market” actually looks like.
- WedCounselPerimeter diffs. If the site drifted from the memo, the site moves — not the memo.
- SatDarkNo creators. No threads. Restricted geos stay dark.
- TueExceptionsOvernight breaks post back into the customer’s case system. No side book.
- SunOwnersWho can decide messaging and budget on a recorded line. If the answer is nobody, stop.
The wedge
Why this one, not the other one.
- They sell
- Offtaker portal
- Who pays
- A transfer agent willing to consume a revoke in production.
- Unit economics
- Annual software against an ops cost the board can see. Switching cost is the record, not the brand.
- Moat on file
- Dual-record: the registry still owns the legal fact.
- Switching cost
- Network effects only if a second named counterparty writes. One customer is a service firm.
- Vs the comps
- Xpansiv is a market. This is the event under a registry.
- Why we listed it
- Registry cooperation is in writing, even if early.
Next twelve months
What has to be true.
Counsel on commodity vs software — one memo.
Counsel is named, even if the memo is still a draft. Unnamed counsel is how files die.
If they raise, it is to hire the remaining certifications and the second market — not to float a coin.
Traction
What you can verify today.
Founded 2023, headquartered in Madrid. One named pilot on file (redacted in public). 3 nodes or connected surfaces reported. Desk diligence score 75/100. A transfer agent willing to consume a revoke in production. Counsel is named, even if the memo is still a draft. Unnamed counsel is how files die.
- Architecture paper — no production customer on the public file
- No token contract listed as a public sale
- Named founder; customer still a conversation
- Madrid 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.”
- Product25
- Customers40
- Legal path62
- Tech maturity37
- Demand10
- Market access44
Risks
What can kill it.
The one that actually kills it
The founder wants a public book
The moment Quince Holt asks this pad to allocate, sell, or complete funding, the listing ends. That is not a moral project. It is how a services firm stays a services firm.
Double count
If the registry and this ledger can both be sold, the product is a liability.
Green token
A freely traded climate token is usually a commodity or a security. This pad will not sell it.
Registry cooperation
Without the registry, this is a shadow certificate.
Policy
GO rules move. The product has to move with them, not ahead of them.
Double count
If the registry and this ledger can both be sold, Quince Holt is a liability. Dual-record or nothing.
Token relapse
A later round that wants a public token puts Quince Holt in a different perimeter. The file treats that as a hard stop.
Ask these next
- 01Which incumbent can copy this in a quarter, and what would they have to migrate?
- 02Is the waitlist demand for a product, or a queue for a coin?
- 03What happens if a founder later wants a public token?
- 04Where do keys, title, or NAV liability sit — and is that person licensed?
- 05What does renewal look like if no round ever happens?
- 06Who is the first named paying customer — not a letter of intent?
Structure
How money would actually move.
Too early to talk about a round on this pad. Screen first. A path has to be named by counsel before anyone should wire.
- Entity
- Quince Holt Ltd
- Path on file
- Not offering — locked
- Posture
- No public sale
- Pack
- Sprint
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.
- Madridnamed
- Mainland China retailrestricted
Team
Who runs it.
- Oskar ChoChief executive
- Kofi OkoyeChief technology
Stack
- Certificate ledger
- Energy certificates
- Audit log
- Approval trail
Named with them
- Northbridge Counsel
Who can decide
Oskar Cho (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.
Year two is a second named market and the remaining certifications — still permissioned. It is not a public book. A public book would be a different company.
Claims with evidence
Statements with evidence.
| Statement | Evidence | Status |
|---|---|---|
| Quince Holt does not sell a token to the public on this pad | Posture lock | live |
| The product is energy certificates sold to institutions | Architecture + customer type | draft |
| Certificate ledger is the method — not a listed asset | Paper only | draft |
| Retail buyers are out of scope | Named markets lock | live |
| Any raise completes with the issuer’s counsel and providers — not on RCA Pad | Fixed-fee terms | live |
| Pilot identities redacted in public | No board minute | draft |
| No public token is sold on this pad | Engagement terms + posture lock | live |
| Customers contemplated: Madrid | Named markets on the file | draft |
On the record
- Application APP-4652ScreenSep
- Counsel questionPathSep
Operating log
03 Sep 9:00
Application scored. Quince Holt is not a calendar slot.
10 Sep 10:12
Counsel question sent. Name a path or lock not-offering.
Path to now
Now
Screen
Calendar is never automatic.
Next
Counsel or close
A named path, or a locked not-offering.
Not a subscription
This is not a sale page.
Too early to talk about a round on this pad. Screen first. A path has to be named by counsel before anyone should wire. Founders who want a pack like this one apply. Readers who want the company talk to the company — not to this pad.
Other companies
VELMVellum ProtocolSettlement rails for private credit funds. Campaign live. No public token sale.KITEKite LedgerTrade-finance records on a permissioned L2. Live waitlist. Allocation is not on this pad.PLSDPalisade IDPermissioned identity for funds. Live in the EEA professional lane. No token, no sale.NRTLNorthlineOn-chain fund admin. Day 8 of 14. The pack is the product. Pathway locked: not offering.