Haven1 Collaborates with Sygnum Bank as Network Validator
Zug, Switzerland, November 7th, 2024, Chainwire
Haven1, the EVM L1 Multi-App Chain bridging the gap between traditional finance and decentralized finance, today announced a strategic collaboration with Sygnum Bank, a global digital asset banking group, as a network validator. This partnership underscores Haven1’s unwavering commitment to setting new security standards, ensuring a safe haven for users in a DeFi landscape challenged by fragmented liquidity and security concerns.
Sygnum Bank, brings an expertise in regulated operations to the Haven1 ecosystem. Their integrated portfolio in digital asset custody, trading, and tokenization, coupled with a robust regulatory compliance framework, solidifies their position as a shaper of future finance and facilitating institutional adoption of blockchain technology.
As a validator, Sygnum will support maintaining the integrity and security of the Haven1 network. Their participation provides operational support and instills trust among both institutional and retail participants, contributing to the broader adoption and growth of the Haven1 ecosystem.
This collaboration comes at a critical juncture for the DeFi industry. Despite its exponential growth, DeFi has been plagued by a series of high-profile hacks, scams, and rug pulls, resulting in billions of dollars in losses. In 2023 alone, over $3 billion was siphoned from DeFi protocols, underscoring the urgent need for enhanced security and trust within the space.
Haven1’s Proof-of-Authority (PoA) consensus mechanism, with its innovative hPassport (Proof-of-Identity), which prioritizes validator reputation and KYC/KYB, aligns with Sygnum’s institutional-grade standards, fostering a secure and trusted environment for all participants. By requiring ecosystem partners, builders, validators and users to undergo rigorous KYC/KYB checks, Haven1 establishes a permissioned, yet decentralized blockchain environment that significantly reduces the risk of malicious activity. This approach resonates strongly with institutional investors who prioritize safety and security.
“We are delighted to welcome Sygnum Bank as a valued validator of the Haven1 network,” said Jeff Owens, co-founder of Haven1. “Their deep understanding of the landscape and commitment to institutional-grade standards perfectly align with our vision of bridging traditional finance and DeFi in a secure and sustainable manner. This collaboration reinforces our dedication to user safety by building an ecosystem that fosters trust, innovation, and mass adoption.”
Rico Müller, Head of Ventures: “Sygnum is excited to join the Haven1 network as a validator. We believe that Haven1’s unique approach to security represents a positive step forward for the crypto industry, and we are proud to be a part of this journey.”
Haven1 has witnessed significant growth in recent months, with a surge in developer activity, partnerships, and community engagement. The addition of Sygnum as a validator further strengthens Haven1’s position as a leading player in the evolving Web3 landscape, poised to address the industry’s challenges and unlock its full potential.
About Haven1
Haven1 is the REKT-resistant EVM Layer 1 blockchain, engineered to address the critical challenges of security and liquidity in Web3. Through innovative solutions like the Haven1 Passport (POI), network level 2FA Wallet-Shield, AI-powered network monitoring, and a robust liquidity aggregation system, Haven1 is building a ‘SafeHaven’ ecosystem for everything onchain in Web3.
Connect, follow and engage with Haven1 on:
X (formerly Twitter) | Telegram | Discord | LinkedIn
For more information, users can visit www.haven1.org
About Sygnum
Sygnum is a global digital asset banking group, founded on Swiss and Singapore heritage. They empower professional and institutional investors, banks, corporates and DLT foundations to invest in digital assets with complete trust. The team enables this through their institutional-grade security, expert personal service and portfolio of regulated digital asset banking, asset management, tokenisation and B2B services.
In Switzerland, Sygnum holds a banking licence and has CMS and Major Payment Institution Licences in Singapore. The group is also regulated in the established global financial hubs of Abu Dhabi and Luxembourg.
Sygnum believes that the future has heritage. Their crypto-native team of banking, investment and digital asset technology professionals are building a trusted gateway between the traditional and digital asset economies that they call Future Finance. To learn more about how Sygnum’s mission and values are shaping this digital asset ecosystem, users can visit sygnum.com and follow them on LinkedIn and X.
