Huobi Joins OpenFinance and Adds Key Expert


OpenFinance Launches Alternative Trading System for Securities Tokens

Security token trading platform, OpenFinance has launched Alternative Trading System (ATS) for the security tokens, according to information shared by the local news-paper as it was reported on August 29.

In Canada and U.S, an Alternative Trading System (ATS) is a non-exchange trading venue that matches sellers and buyers to find counterparties so that they can make transactions. They are usually regulated as broker-dealers instead of as exchanges.

Juan Hernandez, CEO at the U.S.-based OpenFinance, made the confirmation to the local newspaper through an email that the company has created the trading system, noting that the official press release will appear later on the company’s Medium account.

In the month of July, cryptocurrency exchange Huobi entered into a partnership with OpenFinance. In the news-paper it was stated that the partnership was made for a more safe, secure, regulated security token market and growing confidence in the U.S. market. And In the case of Huobi strategic investment, Hernandez said that, “We all believe that security tokens are the future of finance and future of world, and Huobi investment is our trading platform is reflective of the rising interest around the globe in this emerging financial ecosystem.”

In the U.S., a security token is any token which is found to be a security by employing the Howey Test, that is the token offers an opportunity to contribute money and to get share in the profits of an enterprise managed and partly owned by respondents. Additionally, the scheme involves an investment of money in a common enterprise with profits to come solely from the efforts of others.

Last week, U.S based registered company and famous broker-dealer Rialto trading announced that the company has been working with the regulators only to expand its trading operations to include blockchain-based securities.

On 16th July, leading U.S. cryptocurrency exchange and wallet service Coinbase announced that it had received approval from the U.S. Financial Industry Regulatory Authority (FINRA) and the Securities and Exchange Commission (SEC) are to list digital coins considered to be securities.

Randi Zuckerberg Joins Huobi’s Expert Advisory Team

Mark Zuckerberg is the CEO (Chief Executive Officer) and co-founder of Facebook, His sister Randi Zuckerberg has joined the advisory team of Huobi, which is one of the world largest cryptocurrency exchanges.

Up until now, if you read the name Zuckerberg associated with blockchain and cryptocurrency, chances are it was referring to Facebook creator Mark Zuckerberg. However, it’s not Mark Zuckerberg but his sister Randi Zuckerberg who has signed on to advise for one of the world’s largest cryptocurrency exchanges that is Huobi.

According to a report in a local newspaper, Randi Zuckerberg would be providing expert opinion on Huobi public chain, starting from the basic technology to its commercial modelling, industrial applications, etc. and support Huobi Public Chain Leadership Competition.

Both private and public chains are decentralised peer-to-peer networks. Anyone can join and participate in the public chains as the network is entirely open.

The Huobi Chain Project will provide individuals and organizations with a reliable financial protocol for fundraising, value exchange and securitisation.

While Randi association with Huobi may not have as significant impact as her brother’s association. She is a Harvard graduate, the founder and CEO of Zuckerberg Media, Editor-in-Chief of Dot Complicated and creator of an animated TV show called Dot and worked at Facebook for 6 years.

Randi was nominated for an Emmy award and was featured as one of 50 Digital Power Players in 2010. Facebook had banned all cryptocurrency-related advertisements in early 2018, including ads that promoted financial products and services associated with misleading or deceptive promotional practices, such as binary options and initial coin offerings.

However, in June, Facebook reversed its decision of outright ban of crypto-related advertisements, and allowed related content from pre-approved advertisers, while prohibiting ads promoting binary options and initial coin offerings.

Mark Zuckerberg, has expressed interest in blockchain and cryptocurrency and plans to study all the aspects of cryptocurrencies for solving important issues at Facebook.