Havenex, an Austrian company advised by Sui co-founder Kostas Chalkias, said its Series A financing round was nearing completion as it pursued regulatory authorization from Austria's Financial Market Authority.
Havenex Awaits Austrian Regulatory Authorization
Havenex's website says the platform is undergoing authorization with Austria's Financial Market Authority. The company states that it cannot provide regulated services before receiving approval. No public authorization number or regulatory approval appears on its website. Chalkias said the company had applied for every required license and some additional permissions, but did not identify individual license categories. Havenex AG lists a registered address in Vienna and Austrian company registration number FN 673083d.
The company describes its intended customers as professional and institutional clients. Its approval process will determine which services it can provide, the assets it can support and whether it can operate across the European Economic Area. This regulatory approach mirrors the compliance focus seen in Monad's quantum-safe wallet proposal which also targets institutional security.
Series A Details Remain Undisclosed
Chalkias said the Series A allocation was already quite packed and invited interested investors to contact him. That statement remains a fundraising update rather than confirmation of a completed transaction. Havenex has not released supporting documents naming investors or specifying committed capital. It has also not announced a closing deadline. Until the company completes the round, its financing terms remain subject to change.
Chalkias said Havenex originated from his idea but clarified that he would participate as an adviser. His main focus would remain Mysten Labs and Sui. His formal position on Havenex's supervisory board gives him an oversight role, while Siourounis appears responsible for management. The project's technology approach also draws parallels with Kinetiq's infrastructure development in the broader L2 ecosystem.
Havenex Proposes Verifiable Institutional Custody
Havenex plans to provide white-label infrastructure through which banks and other financial companies could offer crypto and traditional assets. Its proposed services include trading, custody, staking, tokenization, settlement and wallet infrastructure. The project says it will support verifiable custody, continuous proof of solvency, multisignature controls and hardware-based two-factor authentication. It also plans self-custody and key-recovery protections.
Chalkias called Havenex the most transparent, safest, institutional-grade, fully regulated exchange possible. However, Havenex has not published an independent security audit, a live proof-of-solvency system, custody addresses or technical documentation demonstrating the planned controls. The next verifiable milestones will be an FMA authorization, final Series A disclosures and detailed technical documentation. A launch date has not been announced.
