Position is the argument. Columns are what a company must bond with to function. Rows are reach. Read two cells together and you can price the partnership before anyone opens a term sheet.
A market map ranks. A table predicts. Empty cells are the useful part: each one marks a structural role that scale should have filled and nobody has.
The table is wider than this screen. Swipe it sideways to see all 18 groups.
Click any element to open it
Chemistry has 118 fixed elements. Companies move between groups the moment they buy a license, and they decay: Currencycloud became Visa, Ria became Euronet. So the table carries an edition date, and the same firm can appear as isotopes, one regulated entity per jurisdiction.
The perimeter line is the payload. It bulges right at periods 2 to 4, where crypto-native firms run at regional scale without full licensing, then snaps back left at global scale. Volume forces licensing. Nothing on this chart survives period 6 unlicensed.
All 110 companies on this chart, listed alphabetically. Each link opens in a new window. Inclusion is identification only, not endorsement.
This chart is published for general information only. It is not legal, regulatory, tax, investment or financial advice, and reading it creates no advisory, fiduciary or client relationship with Faisal Khan LLC. Group placements, mass figures and capture scores are editorial estimates prepared for structural comparison. They are not reported financials, they are not audited, and they may be incomplete, inaccurate or out of date. Licensing status changes often and varies by jurisdiction, so verify the current position directly with the company and the relevant regulator before you rely on any of it. Inclusion is not an endorsement or a recommendation, and it is not a statement that any company named is compliant, solvent, or suitable for your purpose. Faisal Khan LLC may hold commercial relationships with companies shown here. All company names, marks and domains belong to their respective owners and are used for identification only. Outbound links are provided for convenience; Faisal Khan LLC does not control and is not responsible for third-party sites. To the fullest extent permitted by law, Faisal Khan LLC accepts no liability for any loss or damage arising from use of, or reliance on, this chart.