US regulated security token exchange OpenFinance Network goes live
OpenFinance Network (OFN), the first US regulated security token trading platform to market is now live. OFN is designed to directly integrate its platform with broker-dealers, custodians, and transfer agents, thus providing a bridge to the on-chain crypto-capital markets.
OFN has formed partnerships with blockchain industry players including Harbor, Republic, Securitize, Polymath, and continues to add to their partnerships list. To date, 150+ tokens have applied to list on the platform, with a targeted combined market cap of over $8 billion.
Built on Ethereum, OFN simplifies the trading process and automatically validates transactions. With OFN, all verifications, recording and reconciling happen automatically on the distributed ledger.
OFN’s Founder & CEO, Juan Hernandez, an entrepreneur with years of experience developing financial exchanges and algorithmic trading models, recognized the opportunity to improve the alternative asset space with blockchain technology very early on — hence OFN’s head start on other competitors seeking to enter this space.
“The $7.7 trillion industry that is alternative assets has grown significantly over the last ten years. Distributed ledger technology is also emerging, and we saw a great opportunity to tokenize and standardize alternative assets to make them more accessible to traders. We use smart contracts to eliminate the unnecessary intermediaries and busy work to complete a transaction.”
