OpenFinance Network (OFN) Opens USA-based Security Token Trading Exchange Platform
OpenFinance Security (OFN) has launched its token trading platform. The first of its kind, the platform will be open for trading during its launch.
The launch follows a long period of beta testing. The team did not take chances as they wanted the system to flawless once it is launched. Community feedback provided immense help in the development face. According to insider and commentators, the platform will be revolutionizing blockchain trading.
This is the first security token trading platform in the US and is under strictly regulation. The launch comes a time when blockchain trading is looking for pathways to break into the mainstream marketplace. The launch was overly anticipated and it expected to register the same hype when the system is ready to make the first transaction.
— Openfinance (@OpenfinanceIO) December 13, 2018
How The Platform Works
The platform is developed to help companies to raise capital by trading in security token. It is more or less like the conventional security exchanges only that the platform and currency are anchored into blockchain. The operation will be guided by the principles of clearance and settlement between traders. The platform will also provide ICO tokens for traders seeking secondary liquidity market.
First on offer when the system goes live would be BCAP token backed up by Ethereum. This is according to statement made by OFN. In the platform, a token is defined as a non-voting fraction of interest to trade. The capital to trade will be distributed as blockchain tokens that would also be referred to as digital assets. Albeit with regulation, the forces of trade will be determined by orders of traders.
The platform also doubles up as an alternate marketplace. This means it will be operating as a non-regulated exchange platform. Orders from buyers and sellers will play crucial roles in determining the success of this digital tokens exchange platform.
With a lot of potential for blockchains and the entire digital assets niche, OFN has been praised for taking such a move. There is a lot of promise and excitement as the launch draws near. If successful, this will open a battle for supremacy in the digital marketplace.