Huobi, One of World’s Largest Crypto Exchanges, Invests in OpenFinance Network
OpenFinance Network announces strategic investment by global crypto exchange, Huobi, into its US-compliant security token trading platform
Huobi, one of the largest crypto exchanges in the world, has entered into a strategic partnership, including a significant investment, with OpenFinance Network (OFN), the premier US-compliant security token trading platform. The partnership will provide both parties exposure to new markets and allow for collaboration across multiple aspects of token trading.
As interest in crypto expands beyond utility tokens and currencies, security tokens continue to gain appeal. Huobi’s strategic investment in OFN, whose platform launched earlier this summer, is indicative of the momentum toward a more regulated security token market and growing confidence in the US market in particular.
OFN has made a name for itself as the leading platform for trading US-compliant security tokens, while Huobi has become one of the world’s largest exchanges, boasting a global share of 50% at one point and accumulative turnover exceeding $1 trillion.
“We believe that security tokens are the future of finance, and that Huobi’s investment in our trading platform is reflective of the rising interest around the globe in this emerging financial ecosystem,” said Juan M. Hernandez, CEO of OpenFinance Network.
Will Wang, Huobi’s Head of Business Development and Investment for North America, echoed Hernandez’s sentiment, “Huobi Eco has always been committed to providing support and solutions for Huobi to operate within the compliant requirements of every country in which we do business. This is even more important as our market matures. We are looking forward to collaborating with OpenFinance and applying blockchain technology to revolutionize the financial technology market.”
Huobi, seeking to enter the US market, opened their HBUS unit in June. The investment and partnership with OFN better solidifies their competitive position in the US.