INX Limited Closed Acquisition of Openfinance

INX Limited, a global blockchain based trading platform for digital assets, announced yesterday that it has closed the acquisition of a clearing and settlement platform, Openfinance Securities, LLC (Openfinance), following the approval from the Financial Industry Regulatory Authority (FINRA) for change of ownership.

With the closing of the the acquisition, INX now runs Openfinance's broker-dealer/ATS, including its digital security listings and client base. Openfinance's registered users will have the option to onboard onto the INX Digital platform using their Openfinance verification credentials. Besides,  INX can upgrade the existing platform before listing INX Token on the digital securities platform in July.

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Based in Chicago, Openfinance is also the leading secondary market trading platform for ICO tokens that are offered and sold as securities. INX first made public its acquisition plan in last October.

“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, commented.

Last month, INX postponed the listing of INX Token, the world’s first SEC-registered digital security, until July, for the purpose of enhancing technology and onboarding experience to meet strong customer demand.