About Actagora

What is Actagora?

Actagora is a payment cloud: you hold euros, dollars or yen and pay anyone on it instantly, in ordinary currency amounts — you send 20 €, the payee receives 20 €. What makes it different is what your balance is underneath: not a bank deposit, but your own holding in a money-market mutual fund, recorded in your name on Actagora's register. When you pay, the register moves the corresponding fund holding from your name to the payee's in one entry, final the moment it is written.

That design gives three properties, each stated precisely:

• Instant settlement inside the cloud. A same-currency payment is a single register entry with final effect. There is no interbank clearing step between two Actagora users. (Moving money out to a bank account is a separate, slower process — we never conflate the two.)
• Your balance is your property. The fund holding behind your money is an asset you own, not a claim on a bank's balance sheet. Money-market funds are managed to be low-risk, but they are not risk-less and are not covered by deposit-guarantee schemes; the value of your holding depends on the fund's assets.
• A yield-bearing balance. In production, balances would earn the fund's yield net of fund fees — money that works while it waits. In this demo the fund is simulated at a constant NAV of 1.0000, so no yield accrues here.

How it works

1. Verify who you are. Onboarding runs through a bank eID (via Signicat — sandbox mode here). Age and screening checks run before any account exists. Your name and identity stay in the operator layer only — the ledger itself never stores personal data.
2. Add funds. In production you would pay in from your own bank account (open-banking style — you authenticate at your own bank). In this demo the bank leg is simulated. The money becomes available when the next settlement cycle completes — never before. (Under the hood, that is the moment your fund holding is created.)
3. Pay anyone on the cloud. You enter a currency amount; the payee receives that amount, instantly and finally. Under the hood the register moves the corresponding fund holding from your name to theirs.
4. Convert currencies. A conversion moves your money between EUR, USD and JPY. It is forward-priced: it settles at the next exchange-rate strike after your request, never a past one — the honest mechanic used by mutual funds worldwide.
5. Withdraw. A withdrawal pays money out to your bank; under the hood it redeems your fund holding at the next NAV strike first. Exit is deliberately not instant — that is how fund redemption works, and we say so rather than pretend otherwise.

Under the hood, every entry on the ledger is signed with post-quantum, hash-based signatures and the whole journal is independently re-verifiable: an auditor can replay it from the first entry and reproduce every balance. Claims about security are always bounded — component by component, under stated assumptions — never absolute.

Fund information (demo)

The demo models one umbrella money-market fund with three currency-hedged share classes. All figures below are simulated.

• NAV strikes and FX strikes are struck each settlement cycle; all valuation operations settle only against strikes struck after the request (forward pricing).
• Exchange rates follow a small simulated walk around EUR/USD 1.10 and EUR/JPY 150.
• In production, each class would be a share class of a regulated money-market UCITS with its own prospectus, fees and risk disclosures — none of which exist for this demo.

Who we are

Founder — Martin Paasi. Martin has spent nearly three decades inside the machinery Actagora is built on: mutual funds. An M.Sc. in economics from Hanken and a Certified European Financial Analyst, he began as a securities broker and portfolio manager at Handelsbanken and chief analyst at the Helsinki Stock Exchange, then moved to the fund industry proper — portfolio manager and, from 2001, CEO of Seligson & Co, the fund company that listed Finland's first exchange-traded fund in 2002. He went on to lead East Capital Asset Management in Stockholm as CEO and Amanda Capital as CEO, and founded the advisory firm Recubator in 2011. For over a decade from 2014 he was Nordnet's economist and one of Finland's best-known voices on saving and investing, co-hosting the #rahapodi podcast and chairing Suomen Ekonomit (the Finnish association of business-school graduates) from 2021 to 2024. Actagora is his answer to a question he has circled that whole career: why can't the money in your pocket be the fund share itself?

Engineering — Claude. Actagora's software is designed, built and tested by Claude, Anthropic's AI model, working as the project's engineering lead under the founder's direction. That is an unusual arrangement, so we state it plainly — and design for it: the system is built so you never have to take its author's word for anything. The core ledger is specified in a formal (TLA+) model checked exhaustively before code; the code itself is a deliberately small, zero-third-party-dependency Rust core; every milestone had to survive an adversarial gate (crash storms, forged messages, tampered logs) before the next began; and the entire journal is signed with post-quantum hash-based signatures and can be re-verified by an independent tool from the log alone. Trust the verification, not the author.

For corporations

The same register that serves individuals serves corporate treasuries: many accounts under one organisation, paying each other with instant finality and holding working capital in yield-bearing form. Aggregated statements, multi-entity views and purchase-to-pay reporting are on the roadmap for a later demo milestone; the API that underpins them (live now) is documented in the OpenAPI contract.

Actagora Demo Cloud · sandbox environment · simulated fund — no real money.
Questions about the design? Every claim above is bounded on purpose: precise guarantees, stated assumptions, no absolutes.