OpenFinance Network Is Set to Move From Beta to Full Security Token Trading Functionality

OpenFinance Network (OFN) announced on Thursday it is moving from beta to full trading functionality and is claiming to be the first to launch a live, regulated security token trading platform in the U.S.

According to OFN, one of the security tokens available to trade at launch is Blockchain Capital (BCAP), a tokenized venture capital fund focused on digital assets. Blockchain Capital is a pioneer in the space, one of the first to issue a compliant security token offering. OFN revealed:

“BCAP security tokens will be powered by a DS protocol developed by Securitize, a platform for issuing and managing digital securities on the blockchain. The protocol will enable these digital securities to be traded in a compliant way across global marketplaces and exchanges.”

The OFN platform is notably available to accredited and non-accredited investors both in the U.S. and abroad. The platform’s Investor Passport application also serves as a one-time verification process allowing participants to invest based on their eligibility. While sharing more details about the platform, Juan Hernandez, CEO of OFN, stated:

“2018 is said to be the year of security tokens, but, for us, this is only the beginning. We are committed to supporting all levels of investors in participating in this burgeoning alternative asset ecosystem. As we continue to partner with more security token assets, we are able to offer people more opportunities for wealth generation.”

Brad Stephens, Co-Founder and Managing Partner of Blockchain Capital, also commented:

“As creators of the world’s first security token, the BCAP, we are encouraged by the growth of the security token market and related infrastructure. We are excited to be partnering with OpenFinance Network that is enabling liquidity of security tokens in a regulatorily compliant way.”

The OFN went on to reveal it has partnered with and is supported by Huobi as well as Securitize, Atomic Capital, Harbor, Polymath, Securrency, and TokenSoft. The move out of beta comes just a little over six months after OFN reported a group of collaboration added a listing pipeline of more than 130 different security tokens with a current market cap of over $6 billion. The partnerships include agreements with Republic, Harbor, Securitize and Science Blockchain. Hernandez at the time explained:

“The goal of the OFN is to support a broad ecosystem of high-quality service providers, working with the most innovative companies to issue security tokens. We share an unrelenting commitment with these partners to advance this industry and to keep raising the bar.”

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