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first_img Catastrophe bonds are set to go on-chain, with the first tokenization issuance test scheduled for 2027

The law firm Harneys and the tokenization platform droppRWA plan to issue the first catastrophe bond that directly records ownership on the blockchain, with the first trading target set for early 2027. This structure will make the blockchain a legally enforceable record of ownership, with investor registration, qualification review, and payment processes all placed within the same system, reducing reconciliation time from several days to seconds, provided that the necessary regulatory approvals are obtained.The catastrophe bond market is a $65.6 billion market that allows insurance companies, reinsurance companies, and government agencies to transfer natural disaster exposure to capital market investors. The tokenized asset market has nearly tripled in the past year to over $33 billion, and Citigroup expects this sector to reach $5.5 trillion by 2030. The second quarter of 2026 is projected to be the largest quarter in catastrophe bond issuance history, with 48 transactions issuing a total of $11.3 billion, and the Bermuda Stock Exchange accounted for 93% of global catastrophe bond issuance in 2025.To lower the investment threshold, investors will not directly purchase catastrophe bond notes, which typically have a minimum denomination of $250,000, but instead purchase beneficial interests in vehicles that hold the bonds and pass through the returns, with the minimum investment amount expected to drop to $5,000. The project is still subject to applicable regulatory requirements and approvals, and any platform administrator role must be licensed under Bermuda's Digital Asset Business Act 2018.

MYSTEN Labs co-founder Kostas Kryptos participates in the establishment of the cryptocurrency trading platform Havenex: Series A financing is about to be completed

The Sui development team co-founder of Mysten Labs, Kostas Kryptos, stated that Havenex is undergoing Series A financing and is about to complete it. All necessary license applications and some additional license applications have been submitted, and the financing amount is also close to being fully allocated.Havenex is not positioned to become another Coinbase, Binance, Bybit, or Kraken, but rather to provide infrastructure for financial institutions, enabling them to offer digital assets and traditional financial assets to clients while meeting regulatory, custody, security, and transparency requirements. Havenex plans to support a multi-chain architecture, verifiable custody, continuous solvency proof, default multi-signature, quantum-resistant keys, hardware two-factor authentication wallets, as well as self-custody and key loss protection mechanisms; in regions where regulations allow, it will also support privacy assets and RWA. The project will use Sui technology in suitable scenarios while integrating assets, bridging protocols, and foundational components from other ecosystems.The concept of Havenex was proposed by him, and he will currently participate as an advisor, but Mysten Labs and Sui remain his main focus. He stated that the project aims to establish transparency and security standards different from those of FTX and Mt. Gox, and to reduce the serious vulnerability risks caused by code generated by large language models recently.
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