SPiCE VC Lists Security Token on Regulated OpenFinance Network

SPiCE VC, a venture capital firm, announced today that its security token, which it launched in March, will trade on the OpenFinance Network (OFN). This marks the first asset of its kind to list on a US regulated Trading Platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real Read this Term.

Speaking to Reuters, Ami Ben David, the co-founder and managing partner of SPiCE VC said that non-US investors would be able to trade their SPiCE tokens from today. However, due to a 12-month restriction for US accredited investors, they will have to wait until March of next year to trade their tokens.

Security tokens, which are digital currencies backed by a tradable asset, have been growing in popularity. In recent times, more and more companies are taking advantage of Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Read this Term and distributed ledger technology (DLT) to create regulatory-compliant tokes.

In an interview late last week, Tal Elyashiv, co-founder and managing partner of SPiCE VC told Reuters: “Investors in SPiCE VC are not locked in for 10-15 years. They invest in tokens. Think about them as digital contracts.

“They’re securities and they give token holders economic rights to the performance of the portfolio. So when there’s an exit, the net proceeds get distributed to all token holders in a pro rata way.”

According to SPiCE VC officials, the venture capital firm will list more security tokens on OFN in the future. However, it does not specify when or what tokens it will list.

OFN partners with Huobi

OFN is a trading exchange for tokenized securities. Since 2014 the company has facilitated the trading of alternative assets on its platform. The OFN platform manages the entire lifecycle of blockchain-based digital assets, including origination, issuance, exchange, settlement, and redemption.

Earlier this year, Finance Magnates reported that one of the world’s largest cryptocurrency exchanges, Huobi, has made a ‘significant investment’ in OFN, with the purpose of the partnership to provide Huobi with exposure to new markets as it continues its expansion overseas.