Harbor is an all-in-one platform that tokenizes securities including art, investment funds, and real estate. The team is looking to fuel the future of crypto-securities though the offering, and through the standardization of blockchain securities.
The Harbor team believes there are currently many issues with the secondary trading of securities, even though traditional securities are usually a preferred method to going public. Trading restrictions and market inefficiencies can quickly make private securities somewhat illiquid, and often driving their value down.
The tokenization of private securities through the Harbor platform would seemingly allow them to be more easily traded at a cost-effective rate, potentially unlocking billions of dollars of new investment opportunities. The company writes in the whitepaper how this could be particularly advantageous for real estate, since it is an easy way for global investors to diversity their portfolios. They say the tokenization of real estate assets could make it a lot easier for people to navigate already complicated additional legal requirements.
TOKEN SALE / ICO
On April 18, Harbor’s Telegram group stated no ICO has been announced and there is no Harbor coin to acquire.
The project’s attracted a good amount of attention and secured about $28 million dollars in funding last month from some of Silicon Valley’s leading firms.
The fundraising round included investments from Anderessen Horowitz, Pantera Capital, and a variety of other investors, some of which have been investing in the project for a while. These include Signia Venture Partners, Craft, Founders Fund, and SV Angel.
Company CEO Joshua Stein said the latest round of money was going towards the development of the Ethereum-based R token platform and for continued team expansion. The R-token is designed to ensure that investors get properly verified and added to a whitelist so transactions can be self-regulated and approved once they are initiated.
The company also received about $10 million in Series A fundraising back in February. Some think the attention towards Harbor is due to warnings from the US SEC concerning ICOs being classified as securities, and based on hopes that the platform could serve as a valuable tool for investors who are looking to stay in line with regulatory requirements.
Harbor’s current team is well built out and has a variety of experienced advisors, board members, and core team members. CEO Joshua Stein holds a JD from Stanford and has spent time working at Blackwater and OptumRX as General Counsel. Advisors include Mike Belshe (CEO of BitGo), Paul Vronsky (Vy Capital), and Elad Gil. The team’s also taken steps to build partnership with other companies and recruit talented individuals for continued project expansion.
According to the Harbor team, the platform is expected to be rolled out sometime in the summer.