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.
CHICAGO (PRWEB) June 28, 2018
OpenFinance Network (OFN), the first US regulated security token trading platform to market, has announced its platform is 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.
The recent rise in popularity of alternative assets, while a historical moment in finance, has resulted in some significant growing pains: the process of trading traditional securities lacks transparency and is expensive and time-consuming. Built on Ethereum, OFN simplifies the trading process and automatically validates transactions. With OFN, all verifications, recording, and reconciling happens 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,” said Hernandez.
OFN has recently announced partnerships with essential blockchain-focused 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 $8B+.
With OFN, investors have more trading options, full transparency of their portfolio, lower costs, and more flexibility. To start using OpenFinance Network, register today at OpenFinance.io.
For media inquiries, please contact:
Jesse Lucas
Jesse(at)melrosepr(dot)com
(310) 260-7901
Taylar Ramsey
taylar.ramsey(at)openfinance(dot)io
(872) 444-2378
About OpenFinance Network
OpenFinance Network is a trading and settlement platform 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. Securities offered through Sageworks Capital, LLC, an affiliated entity, a registered broker-dealer and a member of FINRA & SIPC. For more information on OFN and the trading platform, visit our website at http://www.openfinance.io and our Medium posts here, and here.