Sydney-based blockchain startup Havven raises $39 million in Australia’s largest ICO

Move over Power Ledger, Australia has a new top crypto dog in town after blockchain startup Havven finalised a $US30 million ($38.6 million) initial coin offering (ICO) this morning.

Kicking off at 7.00am, the token sale was over in just 90 minutes. But the full $US30 million was not sold in that time, as the company had already completed a massive $US26 million pre-sale from high net worth individuals and crypto investment funds.

Public contributors to the sale were left with approximately 1.2 million of the startup’s HAV tokens (or around $US4 million worth of tokens), to get their hands on. With the sale completed, tokens will be issued to investors between March 7-13, but it is currently unknown when or where they will commence trading

Speaking to StartupSmart, Havven founder Kain Warwick says completing the sale was “really exciting”, and the enthusiasm across the raise process shows the demand and need for a stablecoin protocol layer.

“People really see the potential in the project, and we’ve had so much support over the last two or three months,” he says.

“I think much of the cryptocurrency community knows that volatility is an issue, and our approach to a stablecoin is a bit different to other projects, and there’s been a lot of interest in that.” Read more

Dominic Powell - Smart Company - 1 Mar 2018