The partnership will bring the founding members and their team of experts from Coinbag to Haven1, supporting the network’s development ahead of its anticipated debut in 2024.

Jeff Owens, a co-founder at Haven1, will be joining the core Haven1 leadership team.

Furthermore, the alliance between Coinbag and Haven1 is expected to quicken the development of Haven1’s roadmap and enable it to realise its goal of making secure, on-chain finance accessible to anyone.

Why Haven1 and Coinbag?

Haven1’s development comes at a time when regulatory constraints are frequently a barrier to admission for regulated institutions into DeFi.

By implementing network-level risk controls and a verifiable identity framework through a Proof of Authority (PoA) consensus method, Haven1 will address these challenges head-on while assuring regulatory compliance without compromising privacy, ushering in a new era of mainstream DeFi adoption.

Tim Frost, CEO of Yield App, stated: “We at Yield App are delighted to welcome Jeff and his team from Coinbag onto the Haven1 project. Jeff’s extensive background in scaling Web 2 and Web 3 operations, including his role co-founding Coinbag, will undoubtedly enhance Haven1’s leadership. The move is a significant leap forward not only in terms of expertise but also in our collective commitment to driving innovation. This collaboration allows Haven1 to ramp up development, perfectly timed ahead of the launch of the project’s incentivized public testnet.”

Jeff Owens, co-founder of Haven1, added: “I’m thrilled to join the Haven1 project. We’re on the verge of unleashing the full potential of blockchain technology, which could migrate trillions of dollars exchanged through traditional financial markets on-chain. This alliance opens the door to exciting possibilities that will redefine industry standards.”