OpenFinance Network

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OpenFinance Network
Ofn logo2.0 gray.jpg
Founded 2017
Headquarters Chicago, IL
Key People Juan Hernandez, Founder and CEO
Employees 25-50
Products OpenFinance Network Trade Platform, Investor Passport
Twitter @OpenFinanceIO
LinkedIn Profile
Website https://www.openfinance.io/
Blog https://medium.com/@openfinance

OpenFinance Network (OFN) is a trading platform based on a distributed ledger that uses tokenization to simplify electronic trading. The platform is built to simplify the process of applying anti-money laundering, Know Your Customer, and legal compliance to trading cryptocurrency and other assets.[1][2]

Overview

The OpenFinance Network is a software platform that seeks to develop the infrastructure of the cryptocurrency market. It allows users to view a publicly-available whitelist of compliant, qualified broker-dealers, administrators, and agents in order to easily trade crypto assets. OFN's platform can also manage multiple assets being handled by multiple trading entities. It also provides users with the ability to tokenize things they wish to trade, allowing existing businesses to easily enter the space and trade token-based securities.

These features leverage distributed ledger technology in order to maintain transparency between users.[3]

Background

Development of the OFN began in 2017. The beta was launched in Q1 2018.

The OpenFinance Network raised funds in part through venture capital investments. One such investor was Chicago's West Loop Ventures; a manager for this company, Jeff Carter, is on OFN's advisory board, along with Anthony Pompiliano of Morgan Creek Digital Assets, Tor Bair of Enigma MPC, William Mougyar of the Ethereum Foundation, former COO of Liquid Net John Kelly, and Richard Schaeffer, former chairman of NYMEX.[4][5]

The OpenFinance Network launched June 28, 2018.[6]

References