INX Limited Completes Acquisition of Openfinance
- The owner of blockchain-based platforms first announced the acquisition intentions in October 2020.
INX Limited, which operates the first security token IPO cleared by the US regulators, announced on Tuesday that it completed the acquisition of Openfinance Securities, LLC, after receiving the approval from the Financial Industry Regulatory Authority (FINRA). According to the press release, the owner of Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Read this Term-based platforms now operates Openfinance’s broker-dealer/ATS, including its listings and client base.
“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,” Shy Datika, CEO of INX, said in the announcement.
The change of ownership approved by FINRA allows INX to implement upgrades ahead of the INX token listing on the digital securities platform in July once the agreed improvements are implemented, the firm commented. Moreover, users registered in Openfinance could onboard onto the INX Digital platform by using their Openfinance verification credentials.
Acquisition Plans
The plan of acquiring Openfinance was first announced in October last year, as INX agreed to purchase 100% of Openfinance’s broker-dealer and its alternative trading system (ATS).
Based in Chicago with offices in New York and Pennsylvania, Openfinance offering is a clearing and settlement platform based on the blockchain that lets companies raise capital with security tokens. Additionally, it provides secondary market Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term for ICO tokens that are offered and sold as securities.
Recently, Finance Magnates reported that GMO Trust announced a partnership with INX Limited to bring the world’s first regulated Japanese yen-pegged stablecoin, GYEN, through its subsidiary INX Digital, Inc. GYEN will be offered to both retail and institutional investors, according to the announcement.
Furthermore, the manoeuvre allowed INX to integrate GMO Trust’s USD-backed stablecoin, ZDUSD.
INX Limited, which operates the first security token IPO cleared by the US regulators, announced on Tuesday that it completed the acquisition of Openfinance Securities, LLC, after receiving the approval from the Financial Industry Regulatory Authority (FINRA). According to the press release, the owner of Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Read this Term-based platforms now operates Openfinance’s broker-dealer/ATS, including its listings and client base.
“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,” Shy Datika, CEO of INX, said in the announcement.
The change of ownership approved by FINRA allows INX to implement upgrades ahead of the INX token listing on the digital securities platform in July once the agreed improvements are implemented, the firm commented. Moreover, users registered in Openfinance could onboard onto the INX Digital platform by using their Openfinance verification credentials.
Acquisition Plans
The plan of acquiring Openfinance was first announced in October last year, as INX agreed to purchase 100% of Openfinance’s broker-dealer and its alternative trading system (ATS).
Based in Chicago with offices in New York and Pennsylvania, Openfinance offering is a clearing and settlement platform based on the blockchain that lets companies raise capital with security tokens. Additionally, it provides secondary market Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term for ICO tokens that are offered and sold as securities.
Recently, Finance Magnates reported that GMO Trust announced a partnership with INX Limited to bring the world’s first regulated Japanese yen-pegged stablecoin, GYEN, through its subsidiary INX Digital, Inc. GYEN will be offered to both retail and institutional investors, according to the announcement.
Furthermore, the manoeuvre allowed INX to integrate GMO Trust’s USD-backed stablecoin, ZDUSD.