OpenFinance launched trading platform for security tokens
Trading platform OpenFinance announced launching of a regulated alternative trading system (ATS) for security tokens. It was reported by CoinDesk.
OpenFinance CEO Juan Hernandez noted accredited investors in the U.S. can now purchase or trade the digital assets on the patform. Retail investors without accreditation may also be able to trade certain assets, though after a 12-month holding period.
The platform soft-launched several weeks ago and allowed clients to register and complete AML/KYC procedures. OpenFinance trading started on Tuesday, August 28.
The first tradeable token on the OpenFinance is SPiCE VC (SPX). Science, Protos, MintHealth, Corl, Bloxroute and Property Coin will also be added in the near future. Any token sold under a Regulation D, S, A+ or CF can also trade on the ATS.
"[Our partners] are all security tokens that have the necessary smart contract infrastructure in place to be able to trade on our platform," Hernandez specified.
OpenFinance CEO said the company was in regular communication with regulators to receive launch approval.
"It's such a new space that the conversations, communications that we've had with regulators more often than not turn into education, where we are highlighting and detailing how our technology and the smart contracts standards allow for adherence to the rules and compliance," Juan Hernandez added.
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