OpenFinance launches regulated alternative trading system for security tokens

Thursday 30 August 2018 09:55 CET | News

Trading platform OpenFinance has launched a regulated alternative trading system (ATS) for security tokens.

Accredited investors in the US can now purchase or trade the digital assets on OpenFinances platform. Retail investors who cannot receive accreditation may also be able to trade certain assets, though after a 12-month holding period.

The platform soft-launched several weeks ago, to allow buyers and sellers to register and complete their anti-money laundering and know-your-customer procedures, with todays announcement marking the start of actual trading.

OpenFinances timeline for launch was based around its partners availability. For example, Blockchain Capital, a blockchain-focused venture capital company, was the companys first partner and, as such, had to ensure its security token was ready to trade before the ATS could launch.

The first tradeable token on the platform 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 exemption can also trade on the ATS.

OpenFinance joins a number of other startups seeking to launch ATS platforms. Over the last several months, Bittrex, Coinbase, Templum and Overstock have all announced efforts to launch similar systems as a way to legally trade security tokens on a regulated platform within the US.

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Keywords: OpenFinance, crypto trading, security tokens, blockchain
Countries: World