Press Release: OpenFinance Network (OFN) Strikes Key Partnerships in the Security Token Industry
Announces partnerships and listing pipeline of 130+ security tokens with combined market cap of $6B+
Chicago, May 23, 2018 — OpenFinance Network (OFN), the trading platform for alternative assets, including tokenized securities, has announced partnerships with key blockchain-focused industry players, including Harbor, Republic, Securitize and Science Blockchain. Through these relationships and listing agreements, OFN currently has a listing pipeline of 130+ security tokens with a total market cap of $6B+.
Built on Ethereum, OFN is the only technology platform that is fully-compliant for trading token securities and is introducing a new option for liquidity to the alternatives market.
“The goal of the OFN is to support a broad ecosystem of high-quality service providers, working with the most innovative companies to issue security tokens,” said Juan Hernandez, founder and CEO of OFN. “We share an unrelenting commitment with these partners to advance this industry and to keep raising the bar.”
“OpenFinance is an important partner for bringing much-needed maturity to the crypto investment community,” said Carlos Domingo, co-founder and CEO of Securitize and co-founder and managing partner of SPiCE VC. “OpenFinance is setting the standard for security token trading of real-world, often illiquid assets that account for trillions of dollars of value globally. It’s why Securitize chose to list the Spice Token and offer the platform to our customers.”
OFN works with leading banks, brokerage houses, custodians and transfer agents serving the alternative markets. Originally made up of a team of securities lawyers, trading veterans and a trading technology platform, OFN is a venture-backed enterprise providing a new vehicle for accessing liquidity.
“Bringing private securities to blockchains allows issuers to lock up capital without locking up investors,” said Josh Stein, CEO of Harbor. “Harbor is creating an ecosystem of trading platforms so that the securities can trade on the right platforms to get the best liquidity for investors, and we look forward to listing tokenized securities on the OFN trading platform.”
“We’re excited to partner with OpenFinance Network in creating greater liquidity for our investors, and new opportunities for non-accredited investors to invest in startups,” added Kendrick Nguyen, CEO and co-founder of Republic.
Listing agreements with many other industry influencers, including issuance, transfer agent technology companies and other smaller token real estate funds, are currently being solidified. Announcements will be made at the earliest time possible.
The OFN beta is live on the Rinkeby TestNet environment and is limited to early investors and partners at this time. Live trading will launch in June.
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About OpenFinance Network
OpenFinance Network is an open source, 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 www.openfinance.io and our Medium posts here, and here.
About Harbor
Harbor is reengineering private securities with blockchain technology to help usher in a new wave of tokenized securities backed by real-world assets, such as real estate, company equity, investment funds, and fine art. The Harbor platform, powered by its compliance protocol, is the first to ensure tokenized securities comply with existing securities laws on every trade, everywhere across the globe. Harbor has raised more than $40 million and is backed by leading investors, including Founders Fund, Andreessen Horowitz, Craft Ventures, Vy Capital, Fifth Wall, Valor Equity Partners, and Pantera Capital. For more information, go to www.harbor.com
About Republic
Republic is a mission driven investment platform open to anyone. We enable companies to raise funds to non-accredited, accredited and international investors, through securities instruments customized for the crowd. Republic’s mission it to democratizes investing, while leveling out the fundraising landscape for founders and investors alike. Republic encourages startups with diverse teams and backgrounds to apply. To date, 25% of investments on Republic have gone to companies with underrepresented founders of color and 44% have gone to companies with a female founder versus 1% and 13%, respectively, for the industry. Republic is a part of a family of startup platforms together with AngelList, Product Hunt, and CoinList — one of the most trusted online startup ecosystems in the world. Republic is an SEC-registered and FINRA-licensed funding portal. For additional information, please visit: www.republic.co @joinrepublic www.facebook.com/joinrepublic
About Science Blockchain
Science has been helping entrepreneurs build successful businesses for more than six years, during which time it has funded or founded more than 85 companies, and has had $1.3B in aggregate portfolio company exits. Science Blockchain, the first incubator in the world to be funded by its own tokenized compliant securities offering (token: SCI), intends to continue this history of successful company building by helping incredible blockchain entrepreneurs create and scale the software giants of the next century. We do this in three primary ways: 1) incubating promising early stage blockchain ventures, 2) engaging on a very limited and selective basis, with companies looking to take advantage of the possibilities presented by tokenized economies, and 3) investing in compliant private offerings of blockchain businesses. The unique token structure of SCI allows us to distribute 70% of the total tokens that Science Blockchain receives through our incubation and investment strategies directly to the SCI token holders. For more details, please visit https://www.science-inc.com/blockchain.html.
About Securitize
Securitize is an industry-leading security token issuance platform that enables funds, startups, and asset owners to issue security tokens through Security Token Offerings. Companies such as 22X Fund (Batch 22 of 500 Startups), Realecoin, and Lottery.com have worked with Securitize to seamlessly tokenize their securities, raise capital, enable increased investor liquidity, and deliver value to token holders in innovative ways.
Media Contact:
Taylar Ramsey
OpenFinance Network
o: (872) 444–2378
taylar.ramsey@openfinance.io
