Harbor today announced a partnership to list tokenized private securities (security tokens) on the OpenFinance Network (OFN), a venture-backed platform for the trading, clearing and settlement of security tokens on a distributed ledger.
The combination of Harbor’s issuance platform and compliance protocol with the OFN trading platform will support fully compliant trading of tokenized securities backed by real-world assets, such as real estate, company equity, investment funds, and fine art.
“Bringing private securities to blockchains allows issuers to lock up capital without locking up investors,” said Josh Stein, Harbor CEO. “Harbor is creating an ecosystem of trading platforms so that the securities can trade on the right platforms to get the best liquidity for investors. We are excited to partner with OFN to be part of that ecosystem and look forward to listing tokenized securities on its platform.”
Leveraging its Regulated Token (R-Token) standard, Harbor is delivering a platform and compliance protocol for issuers of securities and licensed broker-dealers to bring fully compliant tokenized securities to market, beginning this Summer. Harbor’s compliance protocol ensures regulatory requirements on every trade, wherever they happen. This includes KYC/AML, accredited investor checks, holding periods, investor limits and more.
“We are excited to work with the Harbor team and to support them on their goal to tokenize private securities such as real estate, company equity and investment funds,” said Juan Hernandez, founder and CEO of OpenFinance Network. “OFN is thrilled to work with Harbor on their focus on institutional markets.”
OFN works with leading brokerage houses, custodians, transfer agents, and banks serving the alternative markets. Made up of a team of securi...