Cryptocurrency is all the rage as of late, and trading platforms are looking for entirely new ways to offer digital currency products to customers. Among those platforms is Open Finance, which is described as the “first U.S. regulated platform for the secondary market trading of digital alterative assets.” Open Finance has announced that it is offering what’s known as the Protos Fund (PRTS) to investors not based in the U.S., along with U.S.-based players in the Open Finance Alterative Trading System (ATS).
Protos and Open Finance: Together At Last?
The fun thing about Protos is that investors are not subject to a single cryptocurrency or asset. Instead, they have the option of potentially spreading their investments out across multiple virtual products. This allows for diversity in their portfolios and a little more security should one of those assets suddenly decide to take a plunge. They now have their money locked up in other coins that are likely to do better.
Juan Hernandez, founder and CEO of Open Finance, comments:
By offering the first tokenized hedge fund to our investors, our platform is providing even more variety and opportunities for diversification. We’re excited to be working with Protos Asset Management and providing our users access to an entirely new asset class.
Dr. Philipp Kallerhoff, CEO of Protos, also had a few things to say about the partnership, explaining:
Protos is excited to partner with Open Finance to offer investors the opportunity to get exposure to this exciting asset class. At Protos, we are motivated to deliver superior risk-adjusted returns to investors with institutional grade custody and risk controls.
Open Finance’s main goal is to control risk and bring more safety and security to the world of crypto-trading. Presently, there are nearly $9 trillion-worth of alternative assets available to customers, and Open Finance is aiming to provide more efficient delivery means. In addition, the company is backed by several technologists who are aiming to improve the market’s liquidity.
Safety Is a Big Issue
Protos, on the other hand, operates more like a hedge fund, working to not only provide multiple assets for investors to trade in, but different investment strategies to give customers the most bang for their buck. An official statement for the company explains:
The Fund’s objective is to achieve capital appreciation and produce superior risk-adjusted returns while concurrently seeking to use strategies designed to reduce risk.
In related news, the Chia Network has announced that it will offer a $100,000 reward to any developer that uses its proof-of-space (PoS) methodology to produce what executives feel is a more efficient cryptocurrency. The company is pushing for stronger security and safety when customers engage in transactions by bringing the efficiency of modern banking to the space minus the costs often associated with bitcoin.