INX to Acquire Openfinance Securities, LLC
INX Limited (“INX”), the global blockchain-based platform for trading digital assets, announced today it has signed a term-sheet for the acquisition of Openfinance Securities LLC, a registered U.S. broker-dealer operating a registered FINRA/SIPC member, with an alternative trading system (ATS) (“Openfinance”). Subject to the execution of definitive agreements, regulatory approvals, and other closing conditions, INX would acquire Openfinance’s broker-dealer and ATS business including its systems, digital asset listings, client base and licenses. Openfinance is based in Chicago with offices in New York and Pennsylvania.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201027005773/en/
Shy Datika, Co-Founder and President, INX (Photo: Business Wire)
INX aims to bolster its leadership position in the digital assets’ ecosystem with the acquisition of Openfinance, one of the pioneers of regulated trading platforms in this space. Openfinance listings include companies such as Blockchain Capital, Spice VC and Lottery.com. INX intends to assure continuity of operations and service to Openfinance’s customer base.
“Digital securities represent a new evolution in traditional capital markets. There are massive benefits of listing and trading digital assets versus traditional equities,” said Shy Datika, president and founder of INX. “Openfinance has pioneered this space and earned the respect of Wall Street, the blockchain community, and U.S. regulators. We are proud to add those incredible achievements to the INX portfolio – offering investors more access to liquidity.”
Openfinance CEO Jim Stonebridge stated that “INX and Openfinance share the same vision of providing a safe and regulated ecosystem for listing and trading of digital assets. We believe that regulatory oversight, combined with liquidity, will make digital assets the financial instrument of choice for companies and investors seeking to access and raise capital. The consolidation of two leading platforms will be the catalyst needed to move this industry forward.”
INX recently launched the first SEC-registered digital security IPO for both retail and institutional investors. INX plans to provide novel trading and capital raising financial instruments to enterprises and companies worldwide.
For more information about INX, visit https://www.inx.co/ .
INX aims to provide a regulated trading platform for digital securities and cryptocurrencies combining traditional markets expertise and a novel fintech approach. INX is led by an experienced team of business, finance, and blockchain technology experts unified by the vision of redefining the world of capital markets via the leveraging of blockchain technology and novel regulatory approach.
Openfinance is transforming alternative asset investing with the leading trading platform for the secondary trading of digital securities. Backed by a team of industry veterans and key partnerships, Openfinance provides unprecedented access to liquidity and investment opportunity in the $8.8 trillion alternative asset market. Through our wholly owned broker/dealer, Openfinance Securities, LLC, Member FINRA/SIPC, Openfinance is an SEC-designated ATS licensed to trade digitally formatted securities, including blockchain-based STOs.
Some of the statements in this press release constitute forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. In some cases, you can identify forward-looking statements by terminology such as “may,” “will,” “should,” “expects,” “plans,” “project,” “anticipates,” “believes,” “estimates,” “predicts,” “potential,” “intends,” or “continue,” or the negative of these terms or other comparable terminology. These forward-looking statements may include, but are not limited to, statements relating to our objectives, plans, and strategies; statements that contain projections of results of operations or of financial condition; statements relating to the research, development, and use of our products; and all statements (other than statements of historical facts) that address activities, events, or developments that we intend, expect, project, believe, or anticipate will or may occur in the future. Forward-looking statements are not guarantees of future performance and are subject to risks and uncertainties. We have based these forward-looking statements on assumptions and assessments made by our management in light of their experience and their perception of historical trends, current conditions, expected future developments, and other factors they believe to be appropriate. These statements are only current predictions and are subject to known and unknown risks, uncertainties, and other factors that may cause our or our industry’s actual results, levels of activity, performance, or achievements to be materially different from those anticipated by the forward-looking statements. We discuss many of these risks in greater detail in the preliminary prospectus that forms a part of the effective registration statement filed with the SEC, including under the headings “Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements.” You should not rely upon forward-looking statements as predictions of future events. Although we believe that the expectations reflected in the forward-looking statements are reasonable as of the date hereof, we cannot guarantee future results, levels of activity, performance, or achievements. Except as required by law, we are under no duty to update or revise any of the forward-looking statements, whether as a result of new information, future events or otherwise.
On Behalf of INX
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Wipro to Deliver Agile Customer Engineering Services to Verifone Inc2.12.2020 13:18:00 CET | Press release
Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO), a leading global information technology, consulting and business process services company, today announced that it has won a multi-year contract from Verifone, a global leader in payments and commerce solutions, to drive agility across its cloud services offerings. Wipro will develop new features, capabilities and interfaces for Verifone’s Cloud Services offerings, enabling seamless and flexible transaction processing for the company. Leveraging its global engineering support team, Wipro will accelerate time-to-market for Verifone assisting it to transform its customer partnerships. “Buying patterns have been disrupted by the pandemic and the payment industry is undergoing an overhaul, accelerated by the cashless economy and contactless payments. We look forward to supporting Verifone navigate this upward trend and bring enhanced value through our deep expertise in Cloud Engineering offerings,” said Harmeet Chauhan, Senior Vice Presid
Transphorm’s SuperGaN Gen V FET Delivers World’s Lowest Packaged On-resistance, Targeting Electric Vehicle Applications2.12.2020 12:00:00 CET | Press release
Transphorm Inc. (OTCQB: TGAN)—a pioneer and global supplier of high reliability, high performance gallium nitride (GaN) power conversion products—announced today the sampling of its first Gen V device under its proprietary SuperGaNTM brand. The TP65H015G5WS, Transphorm’s new Gen V device, targets the Electric Vehicle (EV) market and provides industry-leading performance enhancements, ease of designability, and optimized cost structure that is inherent to the SuperGaN device family. Notably, the Company’s Gen V GaN solution offers the world’s lowest packaged on-resistance and delivers a 25% lower power loss over Silicon Carbide (SiC) in a standard TO-247-3 package, strengthening the potential of GaN in the EV power conversion market. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201202005276/en/ Lowest Rds(on) SuperGaN™ FET in a TO-247 package from Transphorm poised for growth in EV market. (Graphic: Business Wire) In March
Curo Fund Services Goes Live With SmartStream’s Post Trade Processing Solution2.12.2020 10:00:00 CET | Press release
SmartStream Technologies, the financial Transaction Lifecycle Management (TLM®) solutions provider, today announced that Curo Fund Services in South Africa, has gone live with TLM Aurora Trade Process Control - consolidating infrastructures across asset classes and business lines, ensuring all trade processing, proactive executions management, through to settlement, are based on verified data - enhancing cost efficiencies and regulatory compliance. Curo Fund Services required a solution to further control and provide visibility of its trade processing requirements and to replace multiple silos for a structured end-to-end solution. SmartStream’s TLM Aurora Trade Process Control will support the entire transaction lifecycle from the point of deal capture through to allocation, confirmation and settlement. By introducing greater automation and enhancing control, the product will assist in lowering operational risk and cost, as well as managing market volatility and meeting buy-side regula
Global Bubble Tea Brand Investing Aggressively in Europe Expansion2.12.2020 09:00:00 CET | Press release
Gong cha, one of the world’s most recognized Taiwanese tea brands, today announced that it is actively seeking additional franchisees across Europe. The company is aggressively seeking to further grow its presence as part of a broader global expansion. A staple throughout Asia with a loyal following since the 1980s, Gong cha bubble tea has become a daily treat for in-the-know consumers across the world. According to Allied Market Research, the European bubble tea market is over $300 million in size and growing at 9% per year. With relatively low investment to open new stores and an attractive business model, Gong cha franchisees have thrived. The company employs a mostly take-out model, offering bubble tea through delivery as well as in-store pickup. Despite the global pandemic, new stores have continued to open around the world, including a new store in Liverpool, England. Gong cha now has stores in 19 countries with over 1,300 locations. Recently acquired by TA Associates, a leading
ADVA recognized as an Intel Network Builders Winners’ Circle Leaders Board partner2.12.2020 09:00:00 CET | Press release
ADVA (FSE: ADV) today announced that it has been awarded Leaders Board status in the Intel Network Builders Winners’ Circle for the second year running. The accolade recognizes the value of ADVA’s Ensemble Connector, a carrier-class NFV platform widely deployed in service provider and enterprise networks across the world. As a verified Intel Select Solution for uCPE, Ensemble Connector offers customers several key benefits, including platform security, zero-touch provisioning and access to the market’s widest library of virtual network functions. Pre-integrated with Intel Xeon D processors, Ensemble Connector provides an optimized and ready-to-deploy hardware-software solution. “We’re delighted to once again be on the Leaders Board of the Intel Network Builders Winners’ Circle. Being recognized for outstanding innovation highlights the extraordinary progress we’ve made with virtualization deployments in live networks,” said James Buchanan, GM, Edge Cloud, ADVA. “As an open platform for
Towerco Valocîme uses Sitetracker to gain operational efficiency and enable the more fair Towerco business model of Valocîme in France and Europe2.12.2020 08:00:00 CET | Press release
Sitetracker, the global standard for managing high-volume projects for infrastructure owners and operators like Ericsson, British Telecom, Vertical Bridge, and Vodafone/Vantage Towers, is proud to announce their partnership with Towerco Valocîme, an innovative Tower company in France. The current distribution of the telecoms value chain is strongly unbalanced in favor of towercos. The purpose of Towerco Valocîme's offers is to rebalance in favor of owners and operators. At the end of 2019, more than 1,000 landlords had signed the Towerco Valocîme offers allowing them to increase their income significantly. In 2020, Towerco Valocîme has launched its operator offers to reduce their hosting costs and thus increase their average operating income per site. “We have created a fair and simple model for towers in France,” said Frédéric Zimer, CEO of Towerco Valocîme. He continued, “We have thousands of landlords and now we are bringing in operators. The key to maintaining our margins is operat
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.Visit our pressroom