In December 2018, the first regulated security token trading platform in the U.S. began trading security tokens. In this show, I’m joined by Juan Hernandez of Open Finance Network and Patrick Daugherty of Foley & Lardner LLP, their counsel, to discuss the challenges and hurdles in achieving this milestone, and where we go from here.

We cover the differences between ATSes and exchanges, why crypto exchanges are different from security token exchanges, working with regulators, and hopes of what the security token industry will look like in the future.

Juan is CEO of Open Finance Network, a blockchain-based protocol and framework for the trading, clearing, and settlement of security tokens and other alternative assets. Juan is a veteran of technology and electronic exchange networks, with over 18 years of financial technology and strategic management experience. Juan received his Bachelor of Arts degree in Computer Science from Northwestern University and his Master of Business Administration degree from the Kellogg School of Management, with concentrations in Entrepreneurship & Innovation.

Patrick Daugherty directs a corporate, M&A, finance and regulatory practice devoted to capital formation, productive innovation and return of and on investment. He leads teams of lawyers that provide the particular array of services needed by each client day to day and has helped clients monetize billions of dollars in sweat equity. As a confidential adviser, he also helps clients resolve sensitive legal matters out of court, quickly and quietly.