Finhaven Technology Inc. has launched an equity and debt issuance platform utilizing the Ethereum blockchain for the creation of tokenized securities.
Finhaven said it relies on its proprietary coding and smart contracts to ensure that the creation, sale, and future resale of these security tokens will all be in compliance with applicable securities laws.
The launch follows the close of US $1 million in seed funding from Medici Investments, the private equity and venture capital arm of S&S Tech Corporation (KOSDAQ: 101490), a Daegu, South Korean based producer of blank mask, the key material of semiconductor.
photo credit: Finhaven
Finhaven Announces Launch of Blockchain Powered, Regulatory Compliant Securities Issuance Platform and USD $1 Million Seed Funding
Combining Blockchain Technology with Securities Law Compliance, Finhaven Provides an Innovative Solution to Capital Markets Inefficiencies
VANCOUVER, BC / ACCESSWIRE / March 19, 2018 / Today Finhaven Technology Inc. (“Finhaven”), launches an equity and debt issuance platform utilizing the Ethereum blockchain for the creation of tokenized securities. Finhaven relies on its proprietary coding and smart contracts to ensure that the creation, sale, and future resale of these security tokens will all be in compliance with applicable securities laws.
Building on top of the Ethereum blockchain for issuance of security tokens, secure portfolio wallets, and an audit layer providing a log of transactions, Finhaven enables the creation of a unique token for each issuer. The Bitcoin blockchain powers Finhaven’s remittance layer, where investors accumulate Bitcoin (“BTC”) as the return from their investments.
The launch follows the close of USD $1 million in seed funding for Finhaven from Korean venture capital and private equity firm, Medici Investments.
“I believe Finhaven is well positioned to disrupt capital markets with their blockchain-based platform,” said Jinhwan Bae, CEO of Medici Investments. “I also believe in the leadership team, who’ve proven their ability to deliver results over the course of our relationship.”
Already leveraging the Finhaven platform are two companies offering tokenized bond issuances, collectively raising approximately USD $15 million.
Kenya-based 4G Capital is a fintech company focused on empowering businesses in East Africa with micro-financing and business training to help informal SME businesses attain sustainable growth. Partnering with Finhaven provides qualified investors with the unique opportunity to participate in the issuance using cryptocurrencies. The partnership also represents Africa’s first ever blockchain fund raising platform for microfinance.
TIMIA Capital Corporation (TSX-V: TCA) specializes in providing revenue financing to software-as-a-service (“SaaS”) companies in exchange for payments based on revenue. Collaborating with Finhaven establishes a cryptocurrency-based investment platform (“CBIP”) for Vancouver-based TIMIA, which is expected to provide significant benefits including improving TIMIA’s collection of routine performance data from its portfolio investments, generating earlier recognition of high-risk situations. TIMIA also looks forward to utilizing the efficiency of Finhaven’s blockchain powered issuance system to create new financing products that better meet the needs of its customers.
Notably, Finhaven’s platform provides issuers with an innovative approach to the capital markets, making it easier, less costly, and more secure to raise global capital. Tokenized equity and bonds provide businesses with access to new markets, asset liquidity, programmable assets, secure and immutable data, and auditable trails of ownership.
“Security tokens represent the future of the capital markets,” said Finhaven CEO DH Kim, “allowing companies to issue their own equity and debt tokens makes it possible for capital to flow more efficiently in global capital markets.”
“By reducing transaction costs, converging intermediaries, and increasing speed of clearing and settlement, blockchain technology promotes much needed efficiency within capital markets. We are already experiencing a significant shift towards tokenized assets, a trend we expect will grow exponentially in 2018.”
Finhaven is currently working to open a blockchain-based securities exchange, and is working with securities regulators to secure the necessary approvals. Once approved, this will position the company as an end-to-end solution for issuing, investing in, and trading regulatory compliant security tokens.
Voted next titan of Asia in February at TMT Finance Asia in Singapore, Finhaven was also just named to the 2018 Emerging Rocket List by Ready to Rocket, a business recognition program for British Columbia’s tech sector, sponsored by PWC, CBRE, McMillan, and more.
Finhaven is building a global, securities issuance platform and exchange. Powered by Ethereum smart contracts and the Bitcoin blockchain, Finhaven’s platform allows for the tokenization of assets, providing companies new access to liquidity and global capital markets. Founded in 2017, Finhaven is led by an experienced management team with strong track records across traditional capital markets and high tech, and scaling companies to successful exits. Finhaven is following regulatory approval process to launch a blockchain-based securities exchange. For more information about Finhaven, please visit www.finhaven.com.
For further inquiries, please contact:
Olivia Lovenmark, Marketing Director
Finhaven Technology Inc.
+1 604 782 2851
SOURCE: Finhaven Technology Inc.
- Fairfax controlled Boat Rocker Media files for IPO on TSX - February 12, 2021
- DRI Healthcare Trust files for US $400M IPO and con-current private placement - February 10, 2021
- Fairfax controlled Farmers Edge files for $100M IPO on TSX - February 9, 2021