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About Tesseract
Tesseract is a regulated institutional platform for digital asset lending and yield. Its core product, Dedicated Client Vaults, gives each client a fully segregated vault managed by Tesseract under its MiCA license, rather than pooling funds or using automated rules. Clients retain beneficial ownership throughout.
The main pain point Tesseract addresses is the compliance gap in DeFi: institutions want on-chain yield but face regulatory uncertainty and custody risks. Tesseract solves this by combining regulated status (MiCA CASP under FIN-FSA), audited security (ISO 27001, SOC 2 Type II), and full asset segregation. Its competitive edge lies in being a licensed, professionally managed alternative to self-custody or rule-based protocols.
In the past six months (Feb-Aug 2026), Tesseract integrated with BitGo Bank & Trust via Narval, allowing institutional clients to allocate to its vaults directly from BitGo custody. It also launched a cbETH vault on Base targeting 13-15% gross APY. Regulatory scrutiny increased: SEC Commissioner Hester Peirce noted some vaults may fall under securities laws, and Tesseract's CEO publicly agreed that discretionary management should be regulated, positioning the firm as compliant-first. No major negative events were reported, though the MiCA transition period ended on July 1, 2026, which may pressure unlicensed competitors.
Tesseract was founded in Helsinki in 2018, focusing on institutional digital asset lending. It achieved profitability in 2020. In 2021, it completed a $25 million Series A round led by Augmentum Fintech, with cumulative loan originations reaching $2.5 billion. In March 2026, it launched Dedicated Client Vaults, replacing pooled structures with independent smart contracts to address institutional custody and compliance needs. The company obtained MiCA CASP authorization under Finland's financial regulator, becoming one of the few EU-compliant institutional platforms.
Co-founders: Yichen Wu, also Head of Product, holds a Master's in Finance and B.Sc. in Business Technology, previously at Microsoft and Nordea.
Core executives:
- James Harris, Group CEO, responsible for overall strategy.
- Henri Littunen, CEO of Tesseract Investment and Group COO, formerly at Nordea, led MiCA licensing.
- Adam Haeems, Head of Asset Management, founder of Alphachain Capital, Master's from Cambridge.
- Tyrell Volker, Chief of Staff.
- Leo Wuoristo, Chief Product Officer.
- Mikhail Tikhonov, Chief Technology Officer.