Kostas Kryptos, cofounder of the Sui blockchain, has unveiled Havenex, a regulated exchange designed to let financial institutions offer both digital and traditional assets to their customers. The platform is raising Series A funding that Kryptos said is nearing completion and has already applied for the licenses required to operate.
Havenex positions itself as infrastructure for institutional custody and settlement rather than a retail exchange competing with Coinbase, Binance, Bybit or Kraken. Kryptos said the platform will focus on meeting the regulatory, custody, security and transparency standards that traditional financial institutions expect when integrating cryptocurrency into their own operations.
The exchange's technical architecture includes verifiable custody, continuous solvency proofs, multisig security, and quantum-resistant key cryptography. Kryptos said Havenex will use Sui technology where it fits the platform's needs while integrating infrastructure from other blockchains as required. Multiple infrastructure startups founded by blockchain developers work across multiple chains rather than bet exclusively on a single network.
Over the past 18 months, multiple regulated trading venues and custodians have launched offerings focused on the institutional segment, each betting that banks and asset managers will need dedicated on-chain settlement rails separate from consumer-facing exchanges.
Havenex has not disclosed the size of its Series A round or the identities of its backers. The company has not announced a timeline for when it expects to receive its licenses or launch operations.
