VELMVellum Protocol8,420 waitlist KITEKite Ledger2,190 waitlist PLSDPalisade ID1,640 waitlist NRTLNorthlineDay 8 of 14 SABLSable RailDay 5 of 14 QULLQuill MarketsDay 11 of 14 CDWLCinder Well6,947 waitlist HRTNHartline8,787 waitlist OBSNObsidian Rail4,416 waitlist FENLFen Clearing1,060 waitlist LUMNLumen Books5,510 waitlist RDCTRedact ID6,485 waitlist HRBNHarbor NAV6,973 waitlist QLTDQuilt1,876 waitlist NMBMNimbus Match7,864 waitlist BRASBrass4,166 waitlist SLSTSolstice Credit9,342 waitlist WLTRWillow Transfer7,031 waitlist EMBREmber Registry2,487 waitlist NQAYNorth Quay2,013 waitlist KLNSKiln4,412 waitlist GLSHGlass HouseDay 8 of 14 IRNPIron PierDay 1 of 14 PLFRPale FireDay 3 of 14 VELMVellum Protocol8,420 waitlist KITEKite Ledger2,190 waitlist PLSDPalisade ID1,640 waitlist NRTLNorthlineDay 8 of 14 SABLSable RailDay 5 of 14 QULLQuill MarketsDay 11 of 14 CDWLCinder Well6,947 waitlist HRTNHartline8,787 waitlist OBSNObsidian Rail4,416 waitlist FENLFen Clearing1,060 waitlist LUMNLumen Books5,510 waitlist RDCTRedact ID6,485 waitlist HRBNHarbor NAV6,973 waitlist QLTDQuilt1,876 waitlist NMBMNimbus Match7,864 waitlist BRASBrass4,166 waitlist SLSTSolstice Credit9,342 waitlist WLTRWillow Transfer7,031 waitlist EMBREmber Registry2,487 waitlist NQAYNorth Quay2,013 waitlist KLNSKiln4,412 waitlist GLSHGlass HouseDay 8 of 14 IRNPIron PierDay 1 of 14 PLFRPale FireDay 3 of 14

QUIR

Closed

CLOSEDPayments orchestration

Quince Span

Window closed. a short list asked while it was live. You are reading history.

The protocol pitch was declined. What remains is software against an invoice. a short list people still asked.

Quince Span — A routing layer in front of payment firms that already hold licences. One API picks the rail (SEPA, cards, local schemes) and can present a wallet-like checkout. The wallet is the interface. It is not a coin.

Closed on this board. Any capital event was completed with the issuer’s own providers. RCA Pad took 0%.

Closed. The live conversation is over. The pack remains as archive.

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

completed

Window

Closed

Heat

0/99

Inbound / wk

0asks

Asking now

0live

Named pilots

Redacted on the public page

Live nodes

Account abstraction · testnet

Counsel hours

Lisbon · closed private round

Sentences killed

Before listing

Claims live

0/12

Growth

Our cut

Of any proceeds

Plate Meridian · 1072

QUIR

The plate

Meridian. Edition 1072.

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

QUIR · Lisbon · Payments orchestration

Score

Desk diligence

Pilots

Named, redacted

Stage

completed

Lisbon

Licensed PSPs

Sells

Scheme-map

Scheme-map licence

Markets

Lisbon

Years

Founded 2021

Surfaces

Account abstraction · testnet

Complete

File readiness

The wedge

Scheme-map licence

Quince Span is betting that Lisbon PSPs will buy routing as software rather than issue a coin.

Why the desk took it

A real job, not a ticker.

They walked in with a licensed PSP letter, not a token deck.

Traction

2 named pilots (redacted).

Founded 2021, headquartered in Lisbon. 2 named pilots on file (identities redacted in public). 7 nodes or connected surfaces reported. Desk diligence score 73/100. A treasurer at a bank that already settles — not a crypto-native desk. Counsel is named, even if the memo is still a draft. Unnamed counsel is how files die.

Next 12 months

Two paying PSPs or the file should not go to Build.

Checkout.com is a processor. This is plumbing for processors. They sell a fee the customer already pays a slower vendor for. TAM is that invoice, not a token float.

The brief

How a serious reader should hold this.

Before the waitlist, before the window, there was a refusal. Quince Span would not let a public sale sit on this page. That is why a company in Payments orchestration is listed here at all — and why the people who wanted a coin left, and the people who wanted the product stayed.

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

A sentence went public and came down in under an hour. Eva Reilly treated the kill as an operating skill, not a PR event. Files that cannot do this do not stay listed.

From the screen

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

From ops

We will not describe this as Reg CA-compliant, MiCA-stickered, or FCA-authorised. Issuers retain their own counsel in every relevant jurisdiction.

From the founder

The legal source of truth stays with the incumbent register, admin, or custodian. Quince Span does not attest to its own facts.

The window

Miss this and you read the archive.

The decline pile in Payments orchestration is full of companies that looked the same on slide one. This one is listed.

The incumbent copy takes a year. The named customer is already writing into this record.

If you are a founder who wants a pack like this: apply. If you are a buyer: call them — not us.

Window

Closed

Closed. History only — not a place to buy.

Sentences killed: 4
Counsel hours on file: 53
Asks / week: 2
Our cut: 0% of proceeds

Kill the public sentence in an hour or do not list us. We can do the hour.
Eva Reilly, Chief executive

This company

Quince Span

Services firms hide in ‘platform’ language. Quince Span sells a seat plus an event. Named.

In the same conversation

Modulr
Lemonway
Checkout.com routing
Not a L2 payments coin

The bet

Why this company exists.

Quince Span is betting that Lisbon PSPs will buy routing as software rather than issue a coin.

MiCA is forcing PSPs to choose a perimeter. Houses that will not become CASPs still need programmable checkout. The ones that pick software over a coin will buy this. The ones that want a token will be declined here.

PSP orchestration in Europe is a multi-billion software market. Buyers already pay for routing. A token would not make the invoice larger; it would make the licence harder.

Versus the field

A generalist vendor can copy the slide in a quarter. They cannot copy the named record, the scheme map, or the auditor conversation. That is the year they would have to buy.

Named: Lisbon. Off-limits: Global public, United States. A US person hearing an offering communication is a US problem even if the company sits in Lisbon. Blocking an IP and taking a US Telegram admin is not a block.

How it works

01Payer or merchant hits a single checkout API
02The router selects a licensed rail the PSP already runs
03Account-abstraction is an optional UX layer (currently testnet)
04Settlement lands in the PSP’s existing accounts — no new token
05Exceptions (chargebacks, scheme rejects) post back into the PSP’s existing case system
06Exceptions post back into the customer’s existing case system — no side spreadsheet.

In the same conversation as

Modulr
Lemonway
Checkout.com routing
Not a L2 payments 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.

Counsel & perimeter
35%
Adapter work against the incumbent register, admin, or custodian.
Certifications & adapters
19%
A counsel memo that can survive a later reader.
Named operators
15%
Keeping the public story from running ahead of the claims register.
Claims & campaign ops
31%
Dual-control drills, key ceremonies, and the person who owns them.

Operating week

What “in market” actually looks like.

MonClaimsEvery public sentence checked against the register. Anything extra is unpublished.
TueExceptionsOvernight breaks post back into the customer’s case system. No side book.
FriKill switchRehearse unpublish in 24 hours. If it takes a committee, it is not a switch.
ThuCustomerNamed pilot (redacted) sees the same record the auditor saw.

The wedge

Why this one, not the other one.

They sell: Scheme-map licence
Who pays: A treasurer at a bank that already settles — not a crypto-native desk.
Unit economics: They sell a fee the customer already pays a slower vendor for. TAM is that invoice, not a token float.
Moat on file: A design-partner PSP that will not talk to a second vendor this year.
Switching cost: Network effects only if a second named counterparty writes. One customer is a service firm.
Vs the comps: Checkout.com is a processor. This is plumbing for processors.
Why we listed it: They walked in with a licensed PSP letter, not a token deck.

Next twelve months

What has to be true.

Two paying PSPs or the file should not go to Build.

Counsel is named, even if the memo is still a draft. Unnamed counsel is how files die.

Capital would fund the adapter work and a named counsel memo, not a public sale.

Traction

What you can verify today.

Operating notes for Account abstraction · testnet
No token contract listed as a public sale
Pilot letters on file, identities redacted
Lisbon is the operating centre
The waitlist, if any, is a product list — not a book
Raise, if any, closed with issuer providers

Readiness

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

Product95
Customers62
Legal path84
Tech maturity49
Demand10
Market access44

Risks

What can kill it.

The one that actually kills it

The named customer is a letter of intent

Pilots that cannot be named, even redacted, are theatre. One paying seat that an auditor has seen is worth more than a waitlist of a short list.

Token temptation

If the wallet layer is ever described as a means of payment, the product becomes an e-money or CASP problem. This file treats that as a hard stop.

Perimeter

A supervisor can still read account-abstraction as issuing. Until counsel names the path, treat the AA layer as a lab.

Customer concentration

A handful of PSP design partners can stall the company if they slip. Ask who is paying, not who is ‘interested’.

United States

The US is out of scope on this file. That is deliberate. It also caps the TAM.

Scheme freeze

A card scheme can kill the router without talking to Quince Span. Concentration in one scheme is existential.

Incumbent feature

The administrator, CCP, scheme or custodian can ship this as a checkbox. Quince Span has to be cheaper or faster before that happens.

Ask these next

01What happens if a founder later wants a public token?
02What does renewal look like if no round ever happens?
03If RCA Pad disappeared tomorrow, could the customer still run the job?
04Which incumbent can copy this in a quarter, and what would they have to migrate?
05Has counsel written the perimeter in a memo you can file?
06Who can unpublish a public sentence in 24 hours, by name?

Structure

How money would actually move.

Window closed. Tombstone is theirs. Archive is ours. 0% of proceeds.

Entity: Quince Span Ltd
Path on file: Lisbon · closed private round
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.

Lisbonnamed
Global publicrestricted
United Statesrestricted

Team

Who runs it.

Eva ReillyChief executive

Stack

Account abstraction · testnet
Payments orchestration
Disclosure templates
Takedown SLA

Named with them

Northbridge Counsel
Helix Audit

Who can decide

Eva Reilly (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.

If the first customer renews, the adapter work pays for itself. If they do not, Quince Span 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 Span does not sell a token to the public on this pad	Posture lock	withdrawn
The product is payments orchestration sold to institutions	Architecture + customer type	withdrawn
Account abstraction · testnet is the method — not a listed asset	Desk snapshot	withdrawn
Retail buyers are out of scope	Named markets lock	withdrawn
Any raise completes with the issuer’s counsel and providers — not on RCA Pad	Fixed-fee terms	withdrawn
Pilot identities redacted in public	Desk file	withdrawn
No public token is sold on this pad	Engagement terms + posture lock	withdrawn
Customers contemplated: Lisbon	Named markets on the file	withdrawn

On the record

Final registerArchiveAug
Close reportReportAug
Tombstone copyArchiveAug

Operating log

19 Aug 10:00
Close report. 0% of proceeds.
12 Aug 18:00
Quince Span archived. Live claims withdrawn.
11 Aug 09:30
Final creator pass. Residual claims pulled.

Path to now

Open
File
Before any public sentence.
Close
Archive
We did not take a cut.

Not a subscription

This is not a sale page.

Window closed. Tombstone is theirs. Archive is ours. 0% of proceeds. 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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