Waves provides a platform for creating custom tokens, storing and trading them using waves decentralize exchange. It also supports non-Turing complete smart contracts.
Waves platform aims to make crypto mainstream by working with banks and building a mainstream product assisting the crowdfunding of projects. Waves project is currently led by CEO Alexander Ivanov (Sasha), who has extensive prior experience in the field.
Its total supply is 100 million and the company raised 16 million from ICO in 2016. Waves already launched their web and desktop client for creating new tokens and decentralize trading. The project uses the Scorex platform (written in Scala) for their backend and the Waves main net is using the Waves-ng protocol (based on the bitcoin-ng whitepaper). As per company claims waves-ng is one of the fastest protocols with around ~6000 transactions/ sec.
Waves also launched their waves fiat token to deeply integrate fiat currencies with their platform. The Waves fiat token now follows the Ripple gateway approach to integrate fiat and crypto but the team plans to make it a stable coin in future. Waves fiat token is regulation friendly with proper KYC/AML.