Bloomberg/Simon Dawson

Technology

HAYVN mulls capital increase to drive next phase of growth

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HAYVN was recently granted in-principle approval (IPA) from the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM) to operate as a crypto asset OTC and custodian.

Thursday 12, September 2019 BY KUDAKWASHE MUZORIWA

HAYVN is raising up to $5 million to fuel the next stage of the company’s growth, following its 2018 seed capital raise which closed one month after launch and raised over $600,000 from private investors across the UK, Middle East, Europe and AsiaPac.

In a statement, HAYVN said that the proceeds will be used to boost the firm’s regulatory capital reserves, roll-out its global regulatory footprint as well as strengthen compliance, legal and IT infrastructure and to facilitate recruitment of key hires for the next stage of growth.

Additionally, HAYVN, the global digital currencies platform, is focused on offering a regulated service to clients globally and plans on taking its regulatory footprint beyond Abu Dhabi to Switzerland, London and Hong Kong.

The company also said that it has established a close global partnership with cryptographic security expert nCipher Security.

HAYVN will also use the proceeds to launch a global marketing campaign to communicate the unique trading opportunities available for institutional investors on the HAYVN platform.

TAGS : HAYVN , Financial Services Regulatory Authority, Abu Dhabi Global Market , nCipher Security

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