Havenex is in the middle of a Series A raise and is close to finishing it, according to a post from Kostas Kryptos, co-founder of Mysten Labs, the team behind Sui. He said the project has submitted all necessary license applications, along with some additional ones, and that the raise is nearly fully allocated.
Built for financial institutions, not as another exchange
Kryptos said Havenex is not intended to become another Coinbase, Binance, Bybit, or Kraken. Instead, it is being positioned as infrastructure for financial institutions, allowing them to offer both digital assets and traditional financial assets to clients while meeting requirements around regulation, custody, security, and transparency.
Planned features include custody verification and proof of solvency
According to the post, Havenex plans to support a multi-chain architecture, verifiable custody, continuous proof of solvency, default multisignature protections, quantum-resistant keys, hardware two-factor authentication wallets, self-custody, and key-loss protection. In regions where regulators permit it, the project also plans to support privacy assets and real-world assets, or RWAs.
Sui will be used where appropriate alongside other ecosystems
Havenex plans to use Sui technology where it makes sense, while also integrating assets, bridge protocols, and foundational components from other ecosystems.
Kryptos to take an advisory role
Kryptos said the concept for Havenex came from him. He added that he will be involved as an advisor, while Mysten Labs and Sui remain his primary focus.
He also said the project wants to set transparency and security standards different from those associated with FTX and Mt. Gox, and aims to reduce the risk of serious vulnerabilities tied to code generated recently by large language models.