Mysten Labs Co-Founder Kostas Kryptos Joins Efforts to Build Crypto Exchange Platform Havenex, Series A Funding Round Nearing Completion

BlockBeats News, August 27th. Sui development team co-founder Kostas Kryptos from Mysten Labs announced that Havenex is in the process of Series A funding and is about to be completed. The team has already submitted applications for all necessary licenses and some additional licenses, and the funding amount is close to being fully allocated.

Havenex is not positioning itself to be another Coinbase, Binance, Bybit, or Kraken, but to provide infrastructure for financial institutions to offer digital assets and traditional financial assets to customers while meeting regulatory, custody, security, and transparency requirements.

Havenex plans to support a multi-chain architecture, verifiable custody, ongoing solvency proof, default multi-signature, post-quantum secure keys, hardware two-factor authentication wallets, as well as self-custody and key loss protection mechanisms. In regions where regulations allow, it will also support privacy assets and RWAs. The project will utilize Sui technology in suitable scenarios, integrate assets from other ecosystems, bridge protocols, and foundational components.

The concept of Havenex was proposed by him, and he will participate as an advisor for now. However, Mysten Labs and Sui remain his focus. He stated that the project aims to establish transparency and security standards different from FTX and Mt. Gox, and to reduce the significant vulnerability risks caused by recent code generation from large language models.