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.”
