Finhaven™ reveals full details of Finhaven Gateway Inc. (“Gateway”) to provide a regulation-compliant solution to buyers and sellers in the two worlds of cryptocurrencies and security tokens.
Gateway recently registered with FINTRAC (Financial Transactions and Reports Analysis Centre of Canada) as a money services business. Gateway is a virtual currency dealer facilitating sales of FINTokens™ – a connector token between the worlds of cryptocurrencies and security tokens.
Gateway issued the FINToken (FIN) on Ethereum, to provide utility and incorporate the advantages of decentralized finance including Binance Smart Contract. FINToken will be available to purchase on The Finhaven Investment Platform through Finhaven Gateway, and soon on global crypto exchanges.
Introducing the Fundamentals of Finhaven Token (FINToken)
Finhaven’s vision for FINToken is to become a utility medium for innovative, improved transactions in regulated industries using blockchain technology.
“Removing third-party custodians is key to real innovation in capital markets. The essence of blockchain innovation is peer-to-peer transactions and self-custody of your assets. In the securities world, however, your investment dealers are custodians of your securities and cash, and banks hold the cash. Unless this fundamental issue is resolved, there is no innovation with blockchain. With Finhaven Distributed Network (FDN, private blockchain), we solved the custodian issue for securities. However, we have not solved the cash custodian issue yet. Having FINToken available for our platform is a giant step closer to solving this cash custody problem.“
“To enhance cross-border securities settlement and to have regulators, central banks, and dealers around the world participate in the efficiency of blockchain supported, regulated industries, Finhaven Chain (public blockchain) will be necessary, as will a medium of exchange for the chain. FINToken will be that medium of exchange,” said Finhaven CEO, DH Kim.
Buy, Hold, and Trade Digital Securities
FINToken will allow investors to buy, hold, and trade digital securities using cryptocurrency and to make payments in the Finhaven ecosystem. Gateway customers who are also clients of Finhaven Private Markets can view digital securities offerings from private companies, convert FINToken to fiat currency for use in digital securities purchases, hold those purchased digital securities in a FINWallet™ and trade those securities with other Private Markets investors. FINToken can be purchased using cryptocurrency (USDC) or fiat currency (CAD). Finhaven Private Markets can currently serve global issuers, but Canadian investors only. Finhaven is on a mission to expand to other jurisdictions with Finhaven partners.
Finhaven Distributed Network
FInhaven is developing the Finhaven Distributed Network for use as a blockchain middleware platform. The first use cases will be decentralized ID and NFTs.
MetaismX will be a NFT marketplace curated for the film and music industries and their artists. MetaismX NFTs will be available for purchase with FINToken.
White-labeled Finhaven Investment Platform
Finhaven will release Finhaven Investment Platform’s white-label version for issuers and investors, best described as a combination of angel networks – PitchBook, Crunchbase, Carta – plus an exciting capital raise marketplace for the global venture world. FINToken will be an important tool for capital raise activities in the global venture capital space.
FINToken circulation and supply
Finhaven minted one billion FINTokens, with the plan to supply up to 20% of one billion FINTokens (up to 200 million) by the end of the year 2022 and up to another 20% by the end of the year 2023. By the end of the second year, the maximum number of FINTokens in market circulation will be 400 million FINTokens.
Finhaven provides a seamlessly integrated investor/customer experience using its proprietary blockchain platform. Founded in 2017, Finhaven is led by an experienced management team with strong track records across traditional capital markets, high tech, and scaling companies to successful exits. Its subsidiary, Finhaven Capital Inc., operates Finhaven Private Markets, and is a registered exempt market dealer and authorized marketplace and clearing agency for security tokens, the first of its kind in Canada.