Sui co-founder launches regulated exchange Havenex

Kostas Kryptos, co-founder of the Sui network, announces a new project: Havenex, a regulated exchange aimed at financial institutions. The Series A funding round is already underway and will close soon, according to him. Havenex wants to distinguish itself from existing exchanges by placing full regulation, demonstrable solvency and advanced security standards at the centre, not only for the crypto world but also for traditional financial markets.

In brief:

• Kostas Kryptos launches Havenex as regulated infrastructure for financial institutions
• The Series A funding round is nearly closed and all licence applications have already been submitted
• Havenex integrates Sui technology as well as solutions from other ecosystems

Havenex focuses on institutions, not retail

Havenex is expressly not intended as a competitor to Coinbase, Binance, Bybit or Kraken. The platform wants to offer infrastructure that allows banks, asset managers and other financial institutions to offer both digital and traditional financial products to their clients, in compliance with the regulations and security requirements they are accustomed to.

Kryptos says he arrived at this course after conversations with regulators, central bankers, board members of financial market authorities, banks, family offices, exchanges, wallet providers and custodians.

The technical principles he mentions are: demonstrable management of assets, continuous proof of solvency, standard use of multi-sig, quantum-resistant keys, hardware two-factor authentication and proprietary mechanisms for self-custody and protection in the event of lost keys. The platform also wants to support confidential transactions and tokenisation of real assets where regulation permits.

Sui technology plays a role, but not exclusively

Havenex uses Sui technology where it makes sense, but also integrates infrastructure, assets and bridges from other ecosystems. Kryptos says he is involved in the project as an adviser, although he stresses that his primary focus remains on Mysten Labs and Sui.

Kryptos draws a direct comparison with earlier fiascos in the sector. He argues that incidents such as the collapse of FTX and Mt. Gox should no longer be considered an acceptable risk. Havenex wants to set an alternative standard in this regard. According to him, the available space in the funding round has already been largely filled. The launch of Havenex coincides with a period of strong growth in crypto funding: crypto startups collectively raised more than one billion dollars in August 2026, the highest point of the year so far.