As of October 19, Sharpe Ventures has officially invested in the OpenFinance all-in-one security token platform. The announcement comes with Sharpe’s vision to develop a transparent and democratized financial market ecosystem, with the help of OpenFinance’s SEC regulated trading platform.
What is the OpenFinance Network?
OpenFinance has launched the first regulated, US-based trading platform for tokenized securities. They’re not merely a trading platform, however. They handle virtually the entire process of tokenization— the creation, issuance, and exchange of security tokens. In a separate interview, Thomas McInerney— OpenFinance’s Chief Product Officer— provided the following introduction to the growing project:
“The OpenFinance Network is the full end-to-end platform for trading security tokens. We handle issuance, trading, and then a fully SEC compliant clearing settlement process. We started four years ago as a secondary market for traditionally illiquid assets like non-traded REITs, Reg D and Reg A funds that came out of the JOBS act, and then stuff like hedge funds and private equity. So we’ve been in business for about four years, and saw this huge opportunity that distributed ledger technology solves.”
The exchange has confirmed that tokens eligible under a Regulation S, D, A+, or CF exemption can be listed. For the time being, only accredited US investors have trading eligibility.
How Sharpe’s Investment Strengthens their Futuristic Vision
Sharpe, which ultimately has three different brands— Sharpe Capital, Sharpe Ventures, and Sharpe Analytics, aims to create a democratized ecosystem for financial market intelligence. More specifically, they specialize in blockchain-based assets, and are working towards a transparent and inclusive tokenized service to encourage the global adoption of blockchain technology. Dr. James Butler, Co-Founder of Sharpe, provided the following comments in explaining how OpenFinance can assist in implementing such a vision.
“Sharpe Ventures aims to invest in blockchain businesses with proven market traction and a dedicated team. OpenFinance Network offers both, they have an experienced and multiskilled team and are already a trusted player in the alternative asset industry since 2014, moreover OpenFinance Network are dedicated to creating a tokenized economy for universally inclusive value exchanges, opening up opportunities for all investors, traditional and crypto.”
The team behind OpenFinance was equally excited about the recent news. Surely, investments from such visionary investment firms make a considerable statement about the future of those they invest in. Tobin McComas, OpenFinance’s Chief Revenue Officer and Director of Business Development, provided the following statement:
“We couldn’t be more excited to have the support and confidence of James, Lewis and the team at Sharpe Capital. They have established themselves as one of the most innovative groups in the space and we are pleased to have them contribute to our project. They have had the foresight to invest in and advocate for the security token movement, one we believe will be revolutionary for financial markets globally.”
While other alternative trading systems such as tZero, Extauri, and CEZEX continue to make developments, Sharpe’s recent investment in OpenFinance has surely made a bold claim. It says something not solely about the OpenFinance Network, but about the optimism embedded in the broader future of tokenized securities. What do you think about Sharpe’s recent investment in the OpenFinance Network? What does this say about the future of OpenFinance? We’d love to know what you think in the comments below.
Image courtesy of OpenFinance Network.