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Singapore’s Huobi Invests in OFN

Huobi, a cryptocurrency exchange platform based in Singapore, has just poured funds into OpenFinance Network, a security exchange, as an investment. Despite no exact details on how big the investment was, OFN did state officially that Huobi had invested quite a lot.

The Company

OfficialFinance Network was fully launched just under two months ago during June as a means of catering to a and increased interest by investors and traders into other tokens and cryptocurrencies apart from utility ones. In light of the advancements within the crypto-market, as part of the statement made, is that by Huobi choosing to invest in OFN, it followed directly with an initiative taken to continuously build towards a market based on more properly regulated security tokens and contributing to a more trusted market, especially within the US.

Juan Hernandez, the CEO of OfficialFinance Network stated that the company firmly believes that security tokens will be the leading factor in the development and spearheading finance in the future. Additionally, the latest investment by Huobi displays a clear and climbing international interest in this particular sector of the crypto-industry. Aside from introducing itself into the securities industry, Huobi has also taken another step towards its US market goals. The company had already launched a US extension of itself, basing the office in San-Francisco as HBUS, another crypto-exchange platform last month which enabled users to trade in several different crypto-coins.

The choice to invest in OfficialFinance comes directly after a choice was made by Morgan Creek Digital, a digital asset management company, to also invest. Through the new collaboration on the 1st of August, Anthony Pompliano, the company’s founder, joined OFN as a senior advisor.

According to Huobi, as one of the largest exchanges on earth, the company reportedly extends its services over 130 different nations and has recently launched in Australia.

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