According to an official announcement, INX signed a term sheet for the acquisition of OpenFinance, which acts as a registered broker-dealer under the Financial Industry Regulator and Securities Investor Protection Corporation.
With the new agreement INX will acquire OpenFinance’s Alternative Trading and Brokerage System (ATS), which will include its systems, digital asset listings, customer base and licenses.
OpenFinance offerings include companies like VC Blockchain Capital, Spice VC, and Lottery.com. INX representatives said that Your company ensures the continuity of operation and service for the OpenFinance customer base.
Shy Datika, President and Founder of INX, emphasized that the new acquisition will strengthen INX’s leadership position in the digital asset ecosystem.
“Digital stocks are a new development in traditional capital markets. Listing and trading in digital assets offers huge advantages over traditional stocks. Openfinance has pioneered the field and earned the respect of Wall Street, the blockchain community, and US regulators. “
Jim Stonebridge, CEO of Openfinance, emphasized that INX and Openfinance share the same vision of providing a safe and regulated ecosystem for listing and trading digital assets. “We believe that prudential supervision coupled with liquidity will make digital assets the preferred financial tool for companies and investors seeking access to capital and raising capital.”Stonebridge noticed.
The latest news will come as part of INX’s ongoing IPO, which is registered with the US Securities and Exchange Commission. Published in August 2020, The $ 117 million IPO is believed to be the first SEC-registered security token IPO. The INX IPO has been accepting major cryptocurrencies such as Bitcoin (BTC) and Ether (ETH) since September 14th.