INX’s acquisition of security token platform OpenFinance almost complete
INX has completed all the documents needed to complete its acquisition of security token platform OpenFinance, and is now awaiting regulatory approval. Crypto IPO issuer INX has announced that its acquisition of security token offering platform OpenFinance is almost complete.According to an email sent to OpenFinance users, the parties are now just awaiting regulatory approval to complete the change in ownership. INX — which is licensed by the U.S. Securities and Exchange Commission — expects its digital asset and securities trading platforms will be launched “in the next few months.”The....
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The crypto industry records another major acquisition in 2020. According to an official announcement, 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.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.OpenFinance’s listings include firms like major industry venture capital firm Blockchain....
INX Limited, a cryptocurrency exchange that went public on Ethereum last month, agreed to purchase U.S. broker-dealer Openfinance Securities.
The current crypto bear market had no direct impact on the STO platform INX because STOs are “very different from others in the space.” Despite some of the first security token offerings (STO) launching at least four years ago, the STO industry is still yet to take off, according to an executive at the INX cryptocurrency trading platform.The STO industry is still nascent compared to the overall digital asset industry as companies and individuals are just getting into the field, INX’s chief business officer Douglas Borthwick said in an interview with Cointelegraph.According to Borthwick,....
The platform said it plans to complete the acquisition before the third quarter of 2021. Payments giant PayPal has acquired Israel-based crypto custody firm Curv for an undisclosed amount.According to PayPal, the firm purchased Curv as part of its initiative to support cryptocurrencies and digital assets. The platform said it plans to complete the acquisition before the third quarter of 2021, but did not disclose the purchase amount. Israel-based media outlet Calcalist said last week that Curv may have sold for between $200 million and $300 million, with CNBC reporting on Monday that “The....
Security token firm Securitize announced Thursday its planned acquisition of Distributed Technology Markets (DTM).