Abacus to Agree with OpenFinance (OFN) as New Securities Token Partner
OpenFinance Network (OFN) Agreed To List Abacus On Their Platform In An Announcement Made Earlier In The Week.
Abacus, one of the leading blockchain based issuance platform for tokenized securities, will list its security tokens on OpenFinance Network through its platform. The partnership is set to benefit both parties in leading overall adoption of their services. OFN is a trading platform for digital assets and tokenized securities.
Speaking to reporters on the partnership between OFN and Abacus, OpenFinance Network CEO, Juan Hernandez, showed his delight in the new partner as well as connecting the Abacus platform with their tokenized security issuers and identity and compliance infrastructure. He further said,
“OFN is excited to partner with Abacus, […] Abacus’s ability to eliminate repetitive KYC/AML checks for every token offering provides users with a more streamlined experience, and we look forward to serving each of them.”
The CEO of Abacus, Pradyuman Vig, termed the partnership with OFN as “integral” as the two companies aim towards giving consumers access to an effective and user-friendly platform to trade their tokenized securities. The Abacus platform is currently completing development as it builds an identity and compliance protocol for permissioned tokens. Mr. Vig said,
“The integration between Abacus and OpenFinance will give our customers access to a seamless and compliant secondary trading experience for their tokenized securities.”
OFN continues to serve different types of investor classes across various offerings types including Regulation A+, Regulation S, Regulation CF and Regulation D. The OpenFinance Network has partnered with Abacus as the second partnership this month involving a security tokenization firm after, Issuance partnership.