🏢 Full
name and abbreviation
of basic information of the company: Provenance Blockchain Foundation
Abbreviation: Provenance Blockchain Subsidiary
FoundedProvenance
Blockchain Foundation was established in 2018.
Registered countryThe
registered country is the United States.
English Headquarters AddressHeadquartered
in San Francisco, California, USA, the specific address is: San Francisco, CA, United States (detailed street address not provided in public information).
Operating StatusProvenance
Blockchain Foundation is currently in active operation (Active), supporting more than 70 financial institutions and fintech companies, with a total value of more than $13 billion in financial assets locked on the blockchain and a total transaction volume of more than $40 billion.
Background
The Provenance Blockchain Foundation is a public blockchain non-profit organization focused on the financial services industry, aiming to promote the digitization of financial assets and improve transaction efficiency through blockchain technology. Its core product is a public, decentralized, open-source, permissionless blockchain built on the Cosmos SDK/Tendermint, designed for financial services. The foundation facilitates the creation and operation of blockchain-based decentralized finance (DeFi) applications by managing, supporting, and funding the ecosystem. The blockchain supports loan origination, payment, buying, selling, and asset securitization, and is widely used in banking, capital markets, asset management, insurance, and trade finance.
Registered Capital
As a non-profit organization, the Provenance Blockchain Foundation does not publicly disclose specific registered capital information.
Key Executive Background
Anthony Moro (CEO of ProvLabs, Affiliated Executive of the Foundation): Moro has extensive experience in the fintech and blockchain fields, having held leadership positions in various financial technology companies, focusing on driving the application of blockchain technology in traditional finance.
Denise McKenney (Foundation Executive): With nearly 20 years of experience in the financial industry, she served as the Chief Operating Officer of Citigroup's Global Consumer Banking, and before joining the Foundation, she was a special advisor to the Centre Alliance founded by Circle and Coinbase, participating in the development of standards related to the US dollar stablecoin (USDC).
Advisory Team
The Foundation does not publicly disclose the full list of advisor teams, but its ecosystem partners include blockchain analytics firms like Chainalysis and Elliptic, indicating that it may rely on external professional advisors for compliance and risk management.
Enterprise Architecture
The Provenance Blockchain Foundation, as a non-profit organization, is primarily responsible for the governance, ecosystem development, and security maintenance of blockchain networks. Its core business is achieved through the following architecture:
Foundation Core: Responsible for the development, maintenance, and upgrades of blockchain protocols, as well as ecosystem management of HASH (native token).
ProvLabs: A spin-off technology subsidiary that provides blockchain infrastructure solutions such as ProvConnect (enterprise and blockchain connection), Asset Manager (asset tokenization management), BlockVault (data storage), and Trade and Transfer (settlement and trading).
Community and Developers: The foundation promotes ecosystem expansion through open-source community and developer support programs such as the $50 million HASH development grant program.
Equity Structure
As a non-profit organization, the Provenance Blockchain Foundation does not operate in the form of equity, and its funding mainly comes from donations, grants, and investments (such as seed rounds). ProvLabs, as its spin-off entity, has received investment from institutions including Morgan Creek Digital, GateCap Ventures, Animoca Brands, and others, but the specific equity distribution has not been disclosed.
Company Nature The
Provenance Blockchain Foundation is a non-profit organization focused on the development and promotion of public blockchains. ProvLabs is a for-profit subsidiary focused on providing commercialized blockchain technology solutions.
📊 Enterprise ClassificationProvenance
Blockchain Foundation belongs to the Blockchain Technology and FinTech industry, specifically classified as:
Technology Classification: Public Blockchain, Decentralized Finance (DeFi) Platform
Industry Classification: Financial Services, Blockchain Infrastructure
< /li>Functional Classification: Asset Tokenization, Transaction Settlement, Data Transparency Solutions
🌐 Market Classification
Provenance Blockchain is positioned in the global financial services market, targeting customers including:
Traditional financial institutions: banks, asset management companies, insurance companies, etc., seeking to optimize operational efficiency through blockchain technology.
Fintech companies: Startups that require blockchain infrastructure to support innovative financial products.
Regulated entities: Institutions looking to meet compliance needs through transparent blockchain data.
The market covers North America, Europe, and Asia, with the United States as the core market.
💼 Services
Provenance Blockchain provides the following core services:
Asset Tokenization: Supports the digitization and on-chain management of financial assets (such as loans, securities, real estate).
Trading and Settlement: Enables real-time settlement, staking, and asset exchange through blockchain, reducing intermediary costs.
Identity Management: Provides identity verification and attribute management functions for financial services to ensure compliance.
Investment Fund Management: Provides fund managers with asset lifecycle management tools, including investor communications, capital statement management, and more.
Data Transparency: Records immutable transaction and asset data through blockchain, enhancing trust.
Its services are implemented through ProvLabs' suite of tools (e.g., ProvConnect, Asset Manager), widely used in loan origination, asset securitization, and trade finance.
⚖️ Regulatory Information
The Provenance Blockchain Foundation emphasizes that its blockchain design meets regulatory requirements, particularly under the stringent compliance framework of the U.S. financial services industry. Here is the specific regulatory information:
Regulatory License Number: While the specific license number is not disclosed, its USDF (Blockchain-Based Stablecoin) project operates in a privately licensed area, aligning with the Federal Deposit Insurance Corporation (FDIC) regulatory standards.
Regulated Institutions: The New York State Department of Financial Services (NYDFS) regulates some businesses, such as the USDF stablecoin; Additionally, the Foundation aligns with the U.S. Presidential Task Force's report on stablecoins, requiring stablecoin issuers to be insured depository institutions.
Regulatory Effective Time: The USDF project has been operating in a privately licensed area since 2021 and is regulated by the NYDFS, with an undisclosed effective date. The
Foundation ensures anti-money laundering (AML), counter-terrorism financing (CFT), and customer due diligence (KYC/KYB) compliance by partnering with compliance analysis firms such as Chainalysis and Elliptic.
📈 Trading Products
Provenance Blockchain supports the following trading products:
Digital Assets: Including tokenized loans, securities, real estate, and other financial assets.
Stablecoins: USDF (stablecoins backed by FDIC-insured banks) for on-chain payments and settlements.
Native Token: HASH, the blockchain's native utility token, used to pay for transaction fees, staking, and governance.
Asset-Backed Securities: On-chain asset-backed securities (ABS), reaching $7 billion by the end of 2023.
🖥️ Trading Software
Provenance Blockchain provides the following transaction-related software and tools:
ProvConnect: An interface for enterprises to interact with the blockchain, supporting asset tokenization and transactions.
Asset Manager: Used for asset tokenization, lifecycle management, and transaction execution.
BlockVault: A secure storage solution for sensitive data both on-chain and off-chain.
Trade and Transfer: A tool that supports asset settlement, staking, and exchange.
Developed based on the Cosmos SDK/Tendermint, these tools support decentralized exchange (DEX) functionality, combining the efficiency of a centralized exchange with the security of a decentralized exchange.
💳 Deposit and withdrawal methods
Since Provenance Blockchain primarily serves institutional customers rather than retail users, its deposit and withdrawal methods are mainly implemented through on-chain operations:
Deposit: Tokenize traditional assets through ProvConnect or Asset Manager and deposit them into the blockchain, supporting the conversion of fiat currencies (such as USD) into on-chain assets through USDF.
Withdrawal: On-chain assets can be converted into fiat currency or other assets through Trade and Transfer and withdrawn to the customer's designated account.
Supported methods: Bank transfer, stablecoin exchange, on-chain wallet transfer.
The specific deposit and withdrawal process needs to be customized through a service agreement signed with the customer, and the foundation does not disclose standardized retail deposit and withdrawal channels.
📞 Customer Support
The Provenance Blockchain Foundation offers the following customer support channels:
Official Email: Submit inquiries through the website (https://provenance.io/).
Developer Community: Technical support is available through Discord and GitHub, catering to developer customers.
Enterprise Support: Provides customized support for institutional clients, including technology integration and compliance consulting.
Events and Conferences: Hosts regular developer community meetings and industry conferences, such as the Wharton Fintech Conference, for face-to-face support.
Customer support is primarily geared towards institutions and developers, with no 24/7 customer service hotline for retail users.
🔗 Core Business and Services
Provenance Blockchain's core business revolves around public blockchain infrastructure and financial service optimization:
Blockchain protocol: Provides a public, decentralized, permissionless blockchain optimized for financial services, supporting high throughput and low-cost transactions.
Asset Tokenization and Trading: Through ProvLabs' suite of tools, it helps customers tokenize traditional assets (such as loans, infrastructure assets) and trade them on-chain.
Stablecoin Support: Provides regulated on-chain payment solutions through the USDF project.
Ecosystem Development: Incentivizes developers to build DeFi applications through a $50 million HASH grant program.
Its services have supported over $40 billion in transaction volume, covering areas such as lending, capital markets, and asset management.
🛠️ Technical Infrastructure
Provenance Blockchain's technical infrastructure is based on the following components:
Blockchain Framework: Built with the Cosmos SDK and Tendermint, it supports a high-performance, modular blockchain network.
The consensus mechanism :P roof-of-stake (PoS), which is staked and governed through HASH tokens.
Smart Contracts: Supports flexible smart contract development, suitable for financial services scenarios.
Interoperability: Enables cross-chain interaction with other blockchains through the Cosmos ecosystem.
Secure Infrastructure: Partnered with Arculus to provide cold storage support, integrating wallet screening and fund source tracking with Chainalysis and Elliptic.
Its network processing capabilities support real-time settlements and large-scale financial transactions, with a total on-chain asset value of $13 billion by the end of 2023.
🛡️ Compliance and Risk Control System
Provenance Blockchain's compliance and risk control system includes:
Customer Due Diligence (KYC/KYB): Integrates global enterprise registration databases and AI technology through ProvLabs' e-KYC platform to achieve real-time identity verification.
Data Protection: BlockVault provides encrypted storage of both on-chain and off-chain data, complying with data privacy regulations such as GDPR and CCPA.
Regulatory Compliance: The USDF project operates under NYDFS regulation, and the foundation follows the U.S. stablecoin regulatory framework.
Risk Management: Reduces operational risks and fraud risks through blockchain transparency and immutability.
> Anti-Money Laundering (AML) and Counter-Terrorism Financing (CFT): Partnering with Chainalysis and Elliptic to provide wallet screening and transaction monitoring.
📍 Market Positioning and Competitive Advantage
Market Positioning
Provenance Blockchain is positioned as a leading public blockchain in the financial services industry, focusing on asset tokenization, transaction efficiency, and regulatory compliance, targeting traditional financial institutions and fintech companies.
Competitive Advantage
Designed for Financial Services: Optimized for financial scenarios compared to other general-purpose blockchains like Ethereum, Provenance Blockchain offers lower transaction costs and faster
speeds. Regulatory-Friendly: Collaborates with U.S. regulators to ensure compliance, making it suitable for highly regulated financial industries.
Ecosystem Support: Attracts developers to build rich applications through a $50 million grant program and open-source community.
Technology Integration:P rovLabs' suite of tools simplifies the process for businesses to onboard blockchain.
Its competitors include Ava Labs, Cardano Foundation, and Swarm Foundation, but Provenance's focus on financial services gives it a unique edge.
🤝 Customer Support and Empowerment
Provenance Blockchain empowers customers by:
Technical Support: Provides businesses with tools like ProvConnect to simplify blockchain integration.
Education and Training: Provides blockchain technology training through developer communities and industry conferences.
Customized Solutions: Provides customized asset tokenization and trading services for institutional clients.
Data Insights: Helps clients optimize business decisions through transparent data through blockchain.
Its clients include over 70 financial institutions, such as Figure Technologies, demonstrating strong customer empowerment capabilities.
🌱 Social Responsibility and ESG
Provenance As a non-profit organization, the Provenance Blockchain Foundation emphasizes social responsibility and environmental, social and corporate governance (ESG):
Environment: Blockchain reduces the intermediary cost of financial transactions, reduces paper-based processes, and supports green finance.
Society: Enhance transparency and accessibility of financial services, empowering small and medium-sized financial institutions.
Governance: Adopt a decentralized governance model, where the community participates in decision-making through HASH tokens, ensuring fairness.
The foundation does not disclose specific ESG reports, but its blockchain technology supports sustainable finance projects such as the tokenization of infrastructure loans.
🤲 Strategic cooperation ecosystem
Provenance Blockchain's strategic partners include:
technology partners: Chainalysis, Elliptic (compliance and risk management), Arculus (digital asset security).
Financial Partners: USDF Alliance (FDIC-insured banking and technology provider), Figure Technologies (on-chain financial services).
Investment Partners: Morgan Creek Digital, GateCap Ventures, Animoca Brands, etc., providing financial support for ProvLabs.
Industry Collaborations: Participate in events like the Wharton Fintech Conference to network with regulators and industry leaders.
These collaborations enhance its capabilities in technology, compliance, and market expansion.
💰 Financial Health
As a non-profit organization, the Provenance Blockchain Foundation does not disclose detailed financial statements, but the following data reflects its financial health:
Total on-chain assets: $13 billion at the end of 2023, with further growth in 2024.
Transaction Volume: Supported over $40 billion in financial transactions, indicating a strong business scale.
Funding Sources: Funded through seed rounds like ProvLabs' 2024 funding round and $50 million in HASH funding programs.
Operational Stability: Over 70 institutional clients and ongoing ecosystem growth indicate its financial stability.
🚀 Future Roadmap
Thefuture plans of the Provenance Blockchain Foundation include:
Ecosystem Expansion: Attract more developers to build DeFi applications through the HASH Grant Program, aiming to cover more financial asset classes.
Technological Upgrades: Optimize blockchain performance to support higher transaction throughput and cross-chain interoperability.
Regulatory Compliance: Deepen cooperation with regulators in the United States and other regions to expand the application of regulated products like USDF.
Market Penetration: Expand market share in Europe and Asia to attract more traditional financial institutions.
Sustainability: Promote green finance and sustainable asset tokenization projects
