Havenex Nears Series A Close as Sui Co-Founder Details Institutional Crypto Exchange

Havenex is seeking to build a regulated venue for institutions to handle crypto alongside traditional financial assets, with its Series A fundraising close to completion, according to Sui co-founder Kostas Kryptos.

The platform has submitted applications for the licenses needed for its planned operations. Its security and custody architecture is expected to combine continuous proof of solvency and verifiable custody with multisig controls, quantum-resistant keys and hardware-based two-factor authentication.

Havenex also plans to offer mechanisms covering self-custody and protection against key loss.

While Sui technology will form part of the platform where suitable, Havenex will not operate exclusively within the Sui ecosystem. The exchange plans to connect with assets, infrastructure, and bridges across other blockchain networks.

Kryptos will advise Havenex but said his primary focus will remain on Mysten Labs and Sui.

Source: Kostas Kryptos