OpenFinance Network (OFN), a trading exchange for tokenized securities, is set to launch trading of so-called ‘third-party digital securities’ to U.S. 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 a secondary market liquidity for ICO tokens that are offered and sold as securities.
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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.
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.”
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