INX Limited (“INX”), the owner of blockchain-based platforms for trading digital securities and cryptocurrencies, today announced it has completed the acquisition of Openfinance Securities, LLC (“Openfinance”), following INX receiving approval from the Financial Industry Regulatory Authority, Inc. (“FINRA”) for change of ownership.
“The acquisition of Openfinance accelerates our time to market considerably in the digital securities space. In addition to the cryptocurrency exchange, we offer a digital security trading platform to investors. It is exciting to offer so many digital services under one roof. We look forward to adding more in the future,” commented Shy Datika, CEO of INX.
With the closing of the acquisition, INX now counts Openfinance’s broker-dealer/ATS – including its digital security listings and client base – among its wholly-owned subsidiaries. Openfinance’s registered user base will have the option to onboard onto the INX Digital platform using their Openfinance verification credentials.
In closing the acquisition, INX now has the opportunity to enhance the functionality of the existing platform by implementing certain upgrades. INX anticipates listing the INX Token on the digital securities platform in July once those upgrades are implemented.
The INX token is the first SEC-registered digital security IPO for both retail and institutional investors. Through its digital securities platform, INX plans to provide innovative trading and capital raising financial instruments to enterprises and companies worldwide.