INX Signs A Term Sheet For The Acquisition Of OpenFinance
INX Signs A Term Sheet For The Acquisition Of OpenFinance
October 30, 2020
INX Signs A Term Sheet For The Acquisition Of OpenFinance
INX Signs A Term Sheet For The Acquisition Of OpenFinance
October 30, 2020

INX has signed a term sheet for the acquisition of OpenFinance, which operates as a registered broker-dealer in compliance with the Financial Industry Regulatory Authority and the Securities Investor Protection Corporation. 

It has been reported that with the new deal, INX is set to acquire OpenFinance’s broker-dealer and alternative trading system business including its systems, digital asset listings, client base, and licenses.

However, OpenFinance’s listings include firms like major industry venture capital firm Blockchain Capital, Spice VC, and

INX’s representatives said that their company will assure continuity of operations and service to OpenFinance’s customer base.

Shy Datika, the President and Founder of INX, highlighted that the new acquisition will bolster INX’s leadership in the digital assets’ ecosystem.

ALSO READ :  Binance Enables Users In Five New Countries To Buy Crypto Using Visa Debit And Credit Cards

He added:

“Digital securities represent a new evolution in traditional capital markets. There are massive benefits of listing and trading digital assets versus traditional equities. OpenFinance has pioneered this space and earned the respect of Wall Street, the blockchain community, and U.S. regulators.”

Likewise, Jim Stonebridge, the CEO of OpenFinance, highlighted that INX and OpenFinance share the same vision of providing a safe and regulated ecosystem for listing and trading of digital assets. 

Stonebridge said:

“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.”

Thus, the latest news comes amidst the INX’s ongoing initial public offering (IPO) registered with the United States Securities and Exchange Commission.

Source: Cointelegraph


Crypto News Point a news platform of Digital Notice Media Labs is primarily a regular publication of information, commentary and articles focused extensively on fintech, blockchain technology, cryptocurrency, blockchain-based tokens, cryptocurrency market trends, and trading strategies. We do not provide individually tailored investment advice and does not take a subscriber’s or anyone’s circumstances into consideration when discussing investments, nor is Crypto News Point registered as an investment adviser or broker-dealer in any jurisdiction. Information contained herein is not an offer or solicitation to buy, hold, or sell any digital assets.

Affiliate Disclosure: To help support the work we do here at CNP, we often link to products and deals from around the web. Should you buy some of these, we may get a portion of the sale.

We in generally gather content from the major websites. In every article there is always a clear link and attribution to the source publication. If you have any issue with any of our published content taken from your site, kindly let us know so that we can take appropriate action. In any case, the content of the pages of this website is for your general information and use only. It is subject to change without notice.

You May Also like

Quidax Reports More Than $3.2 Billion In Transactions

Quidax Reports More Than $3.2 Billion In Transactions

Quidax, the Nigerian cryptocurrency exchange, has reported more than $3.2 billion in transactions, underscoring the rapid adoption of digital assets in Africa’s largest economy. It has been reported that Quidax, since...

Ishita Bora

Ishita Bora is a Senior Content Creator at Digital Notice Media Labs with experience of 1.5 years. She has completed her Master's Degree in Language and Linguistics in 2019 from Gauhati University, India. Her interest lies in blockchain technology and cryptocurrency space. She loves writing about blockchain and other blockchain-related articles.