The CEO of OpenFinance, Juan Hernandez, has announced the launch of their Alternative Trading System (ATS), which will allow US-based investors to trade on their platform. The platform is open to both accredited and non-accredited investors, although those with no accreditation / retail investors will be subject to a 12-month holding period, according to Coindesk. SPiCE VC (SPX) is immediately available for trading, with Science, Corl, Protos Bloxroute, MintHealth and Property Coin set to be added shortly.
This news comes not long after OpenFinance received strategic investment from blockchain giant Huobi, with the former interested in growth and the latter looking to sidestep into the public markets. Huobi’s Head of Business Development and Investment for North America, Will Wang, was quoted in the press release as saying, “Huobi Eco has always been committed to providing support and solutions for Huobi to operate within the compliant requirements of every country in which we do business. This is even more important as our market matures. We are looking forward to collaborating with OpenFinance and applying blockchain technology to revolutionize the financial technology market”.
Meanwhile, Hernandez clearly believes that the future lies in security tokens – although this was not a surprise as the new ATS platform had been soft-released a while back. He said, “We believe that security tokens are the future of finance, and that Huobi’s investment in our trading platform is reflective of the rising interest around the globe in this emerging financial ecosystem”.
OpenFinance was founded in 2014. Their mission statement is quite straightforward: “We work with the leading brokerage houses, custodians, transfer agents and banks. Since 2014, our team of exchange technologists, securities lawyers, and trading veterans has been innovating in alternative assets and pioneering new technology in the industry. Our goal is to bring efficiency, transparency, and interoperability to a fragmented marketplace.”