UAE-based digital currencies platform is Hayvn has launched a $5m fundraise to fuel its next stage of development, the firm has announced.
Hayvn offers clients a highly secure and compliant platform to buy, sell and offer custody services for digital currencies.
In 2018, Hayvn organized a seed capital raise round which ended by raising over $600,000 from private investors from the UK, Middle East, Europe, and Asia. The seed round ended after a month of its launch.
The speed of execution and success of our seed round was a clear vote of confidence in Hayvn's business model and our vision to become the new global standard in institutional digital currency platforms"
This funding will be used by Hayvn to boost its capital reserves, roll-out its global regulatory footprint, strengthen compliance, IT infrastructure, and legal infrastructure.
Additionally, Hayvn will use the proceeds to launch a global marketing campaign.
"The speed of execution and success of our seed round was a clear vote of confidence in Hayvn's business model and our vision to become the new global standard in institutional digital currency platforms," said Hayvn CEO and co-founder Ahmed Ismail.
Christopher Flinos, the other co-founder of Hayvn, noticed that a lot of investors were showing interest in the emerging asset class platform. "With market sentiment strong, our platform operational and the management team ready to execute a global roll-out," he added.
In an interview with International Investment, Ismail said the company was targeting the $1trn institutional market.
Hayvn has been granted approval by the Abu Dhabi Global Market's (AGDM) Financial Services Regulatory Authority to operate as a crypto asset OTC and custodian.