The wedge
Bps on assets accounted
Quince Post sells the middle office of custody, not the keys.
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
QUI7
Screened
SCREENEDQualified custody opsQuince Post
11 days until this conversation is history.
Edinburgh is not a backdrop. It is the city where the customer can be called on a recorded line.
Quince Post — Accounting and proof layers for vaults that already hold assets for known clients. zk or otherwise, the point is a statement a counterparty can verify — not a public yield product.
Screened, not yet in sprint. Treat every number as provisional. Calendar access is not automatic.
Archive is free. Live access is timed. Quince Post is timed.
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
Custody accounting
Counsel hours
0
Not offering — locked
Sentences killed
0
Before listing
Claims live
0/7
Sprint
Our cut
0%
Of any proceeds
Plate Signal · 3563
QUI7
The plate
Signal. Edition 3563.
A unique plate for Quince Post. Geometry, orbit, and edition belong to this company — no other listing on the board shares it.
QUI7 · Edinburgh · Qualified custody ops
Score
0
Desk diligence
Pilots
0
Named, redacted
Stage
upcoming
upcoming
HQ
Edinburgh
Asset managers
Sells
Bps
Bps on assets accounted
Markets
0
Edinburgh
Years
0
Founded 2023
Surfaces
0
Custody accounting
Complete
0
File readiness
Why the desk took it
Early — still a question.
No yield product attached to the accounting.
Traction
One named pilot (redacted).
Founded 2023, headquartered in Edinburgh. One named pilot on file (redacted in public). Desk diligence score 58/100. A qualified custodian reconciling against this book. Counsel is named, even if the memo is still a draft. Unnamed counsel is how files die.
Next 12 months
One qualified custodian in production recon.
A consumer wallet is a different statute. 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.
Edinburgh is not a backdrop. It is the jurisdiction where a named customer can be sued, called, and asked a question on a recorded line. Quince Post chose it for that reason. Counterparties who still think this is a ‘global’ story are already late.
The bet is narrow. A named Edinburgh buyer already has budget for this invoice. Quince Post 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.
A dual-control drill sits on paper. Keys, title, or NAV liability sit with a named licensed party — not Quince Post. The architecture says so. We have not watched the drill live. That is the next ask, not a slogan.
From the screen
A dual-control drill exists on paper. Production evidence is the next artefact, not a tweet.
From the pilot
This communication is not an offer. Participation mechanics do not exist on this pad. If a later reader treats the public stack as the offer, the stack was already wrong.
From ops
The legal source of truth stays with the incumbent register, admin, or custodian. Quince Post does not attest to its own facts.
The window
Miss this and you read the archive.
If the window closes you still have the pack — as history. Not as a live conversation.
Switching cost is the auditor conversation. Once it happens, you are late.
If you are a founder who wants a pack like this: apply. If you are a buyer: call them — not us.
Window remaining
0days
When this window closes, the campaign is archive.
- Sentences killed
- 4
- Counsel hours on file
- 13
- Asks / week
- 10
- 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 Post
Services firms hide in ‘platform’ language. Quince Post sells a seat plus an event. Named.
In the same conversation
- Fund admins
- Custodian reporting
- Public ‘vault tokens’ (the thing this is not)
The bet
Why this company exists.
Quince Post sells the middle office of custody, not the keys.
Quince Post sells the middle office of custody, not the keys.
Allocators asked for proof after 2022. Labs answered with demos. The first vault accounting that an auditor will sign is a business.
Middle-office spend at alternative managers is a budget that survived the last cycle.
Versus the field
The incumbent brand sells the relationship. Quince Post 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 Not offering — locked. Proposed Regulation Crypto Assets is not treated as a calendar slot. Build as if it never opens.
How it works
- 01Positions are accounted in a book the manager already runs
- 02A proof or extract is produced for a named counterparty
- 03Yield is not marketed to the public on this pad
- 04zk, if present, is a method — not a ticker
- 05Positions are accounted; the licensed custodian still holds
- 06The legal source of truth stays with the incumbent register, admin, or custodian.
In the same conversation as
- Fund admins
- Custodian reporting
- Public ‘vault tokens’ (the thing this is not)
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
32%
Dual-control drills, key ceremonies, and the person who owns them.
Certifications & adapters
26%
Keeping the public story from running ahead of the claims register.
Claims & campaign ops
15%
Hiring the operator who already does this job at a licensed firm.
Counsel & perimeter
27%
The remaining certifications and the second named market.
Operating week
What “in market” actually looks like.
- WedCounselPerimeter diffs. If the site drifted from the memo, the site moves — not the memo.
- SunOwnersWho can decide messaging and budget on a recorded line. If the answer is nobody, stop.
- SatDarkNo creators. No threads. Restricted geos stay dark.
- ThuCustomerNamed pilot (redacted) sees the same record the auditor saw.
The wedge
Why this one, not the other one.
- They sell
- Bps on assets accounted
- Who pays
- A qualified custodian reconciling against this book.
- Unit economics
- Annual software against an ops cost the board can see. Switching cost is the record, not the brand.
- Moat on file
- Corporate actions processed as events, not tickets.
- Switching cost
- Once the record is the record, the incumbent copy has to migrate history. That is the year.
- Vs the comps
- A consumer wallet is a different statute.
- Why we listed it
- No yield product attached to the accounting.
Next twelve months
What has to be true.
One qualified custodian in production recon.
Counsel is named, even if the memo is still a draft. Unnamed counsel is how files die.
They have not asked us to run a sale. That ask would close the file.
Traction
What you can verify today.
Founded 2023, headquartered in Edinburgh. One named pilot on file (redacted in public). Desk diligence score 58/100. A qualified custodian reconciling against this book. 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
- Pilot letters on file, identities redacted
- Edinburgh 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.”
- Product26
- Customers40
- Legal path62
- Tech maturity28
- Demand10
- Market access68
Risks
What can kill it.
The one that actually kills it
The unit of account becomes a token
Seat plus event. If they attach a token as the unit of account, this company is a different company — and not one we will operate a campaign for.
Yield product
If the landing page is APY, this is a different, usually unlicensed, business.
Proof theatre
A zk circuit of a fake book is still a fake book.
Custodian
Who holds the keys? If it is the startup, that is custody.
Audit
No auditor, no statement. Demo is not diligence.
Accidental custody
One key on a Quince Post box and the licence problem is immediate. The architecture has to make that impossible.
Facts vs theatre
A proof of a fake book is still a fake book. Quince Post has to attach to the real one, in Edinburgh.
Ask these next
- 01Which incumbent can copy this in a quarter, and what would they have to migrate?
- 02What does renewal look like if no round ever happens?
- 03Who is the first named paying customer — not a letter of intent?
- 04Where do keys, title, or NAV liability sit — and is that person licensed?
- 05Has counsel written the perimeter in a memo you can file?
- 06What happens if a founder later wants a public token?
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 Post 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.
- Edinburghnamed
- United Kingdomnamed
- Global publicrestricted
- United Statesrestricted
Team
Who runs it.
- Luca MbekiChief executive
Stack
- Custody accounting
- Qualified custody ops
- Audit log
- Disclosure templates
Named with them
- Helix Audit
Who can decide
Luca Mbeki came in named. The team is not a handle. Quince Post Ltd exists, founded 2023, headquartered in Edinburgh. Anonymity would have been an automatic decline.
If the first customer renews, the adapter work pays for itself. If they do not, Quince Post is a services firm with a slide. The twelve-month test is renewal, not waitlist.
Claims with evidence
Statements with evidence.
| Statement | Evidence | Status |
|---|---|---|
| Quince Post does not sell a token to the public on this pad | Posture lock | live |
| The product is qualified custody ops sold to institutions | Architecture + customer type | draft |
| Custody accounting 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 |
| Production date for the chain layer is not committed | No board minute | draft |
| No public token is sold on this pad | Engagement terms + posture lock | live |
| Customers contemplated: Edinburgh, United Kingdom | Named markets on the file | draft |
On the record
- Application APP-4305ScreenSep
- Counsel questionPathSep
Operating log
03 Sep 13:00
Application scored. Quince Post 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
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