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INX Clinches Deal to Acquire OpenFinance: A Leap Forward in Digital Securities

INX Expands Its Reach

The recent announcement that INX has signed a term sheet to acquire OpenFinance makes ripples across the digital asset space. OpenFinance, operating as a registered broker-dealer under the eyes of the Financial Industry Regulatory Authority and Securities Investor Protection Corporation, fits perfectly into INX’s ambitious plans. With this acquisition, INX will benefit from OpenFinance’s extensive broker-dealer and alternative trading system business.

The Benefits of the Acquisition

This strategic move isn’t just about acquiring companies; it’s about gaining assets—including systems, legal licenses, and OpenFinance’s existing digital asset listings. Notable firms within OpenFinance’s portfolio include heavyweights like Blockchain Capital, Spice VC, and Lottery.com. This means INX is not just acquiring a name but a powerful player in the secure trading of digital securities.

Continuity of Operations

According to INX’s team, they guarantee the smooth continuation of operations for OpenFinance’s customer base. Jeopardizing service is not in their game plan. As customers often feel wary during acquisitions, this assurance could help in maintaining trust and liquidity in the trading systems of OpenFinance.

Voices from the Top

Shy Datika, the president and founder of INX, was clear about his enthusiasm. He emphasizes the shift in how capital markets operate, saying, “Digital securities represent a new evolution in traditional capital markets.” His excitement is echoed by OpenFinance’s CEO, Jim Stonebridge, who recognizes the shared vision between the two organizations. Together, they aim to create a reliable and regulated ecosystem for digital asset trading, which could whisper sweet nothings to both companies and investors alike.

Context of the Acquisition

This acquisition surges forward amid INX’s ongoing IPO, which has already created buzz since its launch in August 2020. With plans to raise $117 million and claims to be the first-ever security token IPO registered with the SEC, INX is charting an ambitious path. Investors can now contribute through major cryptocurrencies like Bitcoin (BTC) and Ether (ETH) starting September 14. So, it’s not just a merger; it’s a chase for a digital gold rush.

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