OpenFinance Network (OFN) Announces It Can Trade Security Tokens, Opens Application Process For Qualified Parties

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The OFN Platform is Operational, Having Already Completed One of the Only Verified, Compliant Token Trades

OpenFinance Network(OFN), the premier trading technology firm in alternative assets, today announced that its blockchain-based trading, clearing, and settlement platform is accepting applications to list compliant crypto security tokens. Assuming applicants meet listing standards, their security would be eligible for secondary market trading on the OFN platform, following any mandatory holding period (e.g., pursuant to Securities Act Rule 144(d)).

“OFN is an operational platform, today - and has been for some time,” said Tobin McComas, Head of Sales at OFN. “Our significant experience improving trading, clearing, and settlement in the private placement and alternative asset space puts us at the forefront of bringing transparency and secondary trading to the tokenization era. We are pleased to be among the first to not only offer security-token trading but also to have an established ability to execute against that offer.”

Juan Hernandez, CEO of OFN, added: “The need for a better approach to the underlying process for validating trades has been recognized for years. Blockchain – secure software protocols designed specifically for recording and verifying transactions in a distributed and therefore secure fashion – presented an obvious solution. Our team has the expertise and market knowledge to apply the technology in a way that makes sense for investors and large institutions, and we’re excited to bring these capabilities both to them and to the crypto markets at large.”

OFN is a Chicago-based, FinTech firm, specializing secondary markets for alternative assets. The team consists of a diverse group of tenured professionals with capital markets, technology, and legal experience. Since 2014, the OFN team has been working with the country’s leading brokerage houses, banks, custodians and transfer agents on the trading, clearing, and settlement of illiquid, alternative assets. Using blockchain technology, OFN is establishing an end-to-end, compliant standard by which crypto securities and other alternatives are issued and exchanged. OFN is also one of the only fully operational and compliant firms to have verifiably completed a security token trade (BCAP).

*All investment-related information presented is for informational purposes only and does not constitute a solicitation or offer to sell securities.

About OpenFinance Network
OpenFinance Network is an open source, end-to-end issuance, trading, clearing, and settlement service for the alternative asset industry. The platform serves as a conduit between issuers, investors, and industry stakeholders, offering streamlined access to liquidity and asset transfer efficiencies. The team has over fifty years of combined experience in financial markets, exchange technology, and finance law and has operated together since 2014. For more information on OFN and the need for trading, see our website http://www.openfinance.io and our Medium posts here, and here.

Press Contact

Taylar Ramsey
taylar.ramsey [@] openfinance.io

John Franklin
john [at] sintercompany.com

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Taylar Ramsey
OpenFinance Network
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John Franklin
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