OpenFinance Network (OFN), a trading exchange for tokenized securities, is set to launch trading of so-called ‘third-party digital securities’ to US investors, which has been already available to its customers abroad.
The compliant offering is a clearing and settlement platform based on the blockchain that lets companies raise capital with security tokens. It also provides secondary market liquidity for ICO tokens that are offered and sold as securities.
The platform is available to both accredited and non-accredited investors to trade these assets 24 hours a day and seven days a week. OFN verifies investor eligibility through their Investor Passport application which performs a one-time verification process.
OFN’s announcement comes as holding periods for BCAP and SPiCE securities tokens listings have expired. The Ethereum-based tokens were among the first assets available to trade at launch.
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BCAP represents a fractional non-voting economic interest in Blockchain Capital’s tokenized venture capital fund focused on digital assets. In turn, SPiCE VC is also a tokenized venture capital that invests in blockchain startups. The fund has its own security token, SPICE, which gives token holders a direct economic interest in the companies that SPiCE invests in.
Investment from Huobi
OpenFinance already offers a platform that manages the entire lifecycle of blockchain-based digital assets, including origination, issuance, exchange, settlement, and redemption. The site claims it will enable all operations in a regulatory compliant manner. Its client roster includes banks, brokerage houses, custodians, and transfer agents serving the alternative markets.
The US-compliant startup has recently announced partnerships with a list of prominent players in the blockchain industry as it seeks to capture a portion of a huge market class that is waiting to be tokenized. Earlier this year, it received a significant investment from Huobi, one of the world’s largest cryptocurrency exchanges.
Commenting on the news, Juan Hernandez, CEO of OFN, said: “The ability for U.S. Investors to trade these digital assets and access liquidity marks a significant next step in the evolution of the digital securities market. We look forward to introducing additional trading opportunities in the near future as our platform expands.”