Country for PR: United States
Contributor: PR Newswire New York
Wednesday, January 20 2021 - 01:00
INX Finalizes Openfinance Securities Acquisition Terms
NEW YORK and CHICAGO, Jan. 20, 2021 /PRNewswire-AsiaNet/ --

  -- Acquisition will bring broker-dealer, ATS business, digital 
     asset listings, clients and licenses to INX

INX Limited ( 
), the blockchain-based platform for trading digital securities and 
cryptocurrencies in accordance with SEC, FINRA and EU regulations, announced 
today that a definitive agreement has been signed 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 ( 
) "). Integration of Openfinance's registered user base to INX is expected to 
result in a critical mass for the upcoming INX platform launch.

Subject to customary regulatory approvals, INX will acquire Openfinance's 
broker-dealer and ATS business including its systems, digital asset listings, 
client base and licenses. This combination will more than quadruple registered 
users to the platform.  Openfinance is based in Chicago with offices in New 
York and Pennsylvania.

INX bolsters its leadership position in the digital asset 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 INX recently announced the future listings 
of Diamond Standard's Diamond Token, Pixelmatic's Infinite Fleet, Wave's 
Kentucky Whiskey Fund, Klickown AG and Solidblock. INX assures continuity of 
operations and service to Openfinance's customer base.

"The broker-dealer and ATS business enables investors to trade security tokens 
on the Openfinance platform. The acquisition shortens the time for INX to go to 
market. Now we expect to go live a few months after closing with both our 
cryptocurrency trading platform and a fully-regulated securities trading 
platform," commented Shy Datika, President and founder of INX.

"INX developed a proprietary trading platform, and built it from the ground up 
with regulation in mind. Our trading platform and portfolio are the perfect 
match for INX to debut listing and trading of digital securities with full 
regulatory compliance, fair trading policies, secure protocols and privacy 
procedures," commented Jim Stonebridge, CEO of Openfinance.

INX recently launched the first SEC-registered digital security IPO ( 
) for both retail and institutional investors. INX plans to provide innovative 
trading and capital raising financial instruments to enterprises and companies 

For more information on INX Limited, please visit the website and 
follow the platform on Telegram ( 
), Reddit ( 
), Instagram ( 
), Facebook ( 
), Twitter ( 
), YouTube ( 
) or LinkedIn ( 

About INX

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 an innovative 
regulatory path.

About Openfinance

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.

Forward-Looking Statements

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 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.

Press Contact:
Pistol x Stamen
Denise Weaver

Source: INX Limited