The INX Digital Company, Inc., a broker-dealer and inter-dealer broker, announced that it has submitted a bid, in the form of a non-binding Letter of Intent, to purchase assets of Voyager Digital Ltd., following the company’s bankruptcy filing. INX is among other companies bidding for Voyager’s assets.
INX’s bid to acquire Voyager leverages its position as both a FINRA and SEC-regulated broker-dealer/ATS and as a cryptocurrency trading platform in 43 US states and territories in which it has obtained money transmitter licenses or is otherwise authorized to operate. The end-to-end regulated platform, INX.One, enables trading, issuing, minting, and instant settlement of security tokens and cryptocurrencies. Security tokens can be used to offer profit-sharing, voting rights and equity representation. Additionally, they can be leveraged as part of a debt restructuring and bankruptcy loss recovery mission.
“Our bid is a strategic next step in executing INX’s vision to democratize finance and reshape existing paradigms in the market by leveraging the power and versatility of its regulated trading platform,” said Shy Datika, CEO of INX. “We believe that INX can offer the right combination of credibility, technology, and unique regulatory positioning to protect Voyager customers and creditor interests – giving them the stability they are looking for.”
“As market structure continues to evolve on automated blockchain technology within the regulated environment, new digitized solutions will democratize finance and set the foundation for a revolution in innovative security solutions,” said David Weild, INX’s chairman of the board and former Vice Chairman & Executive Vice President at Nasdaq.
In 2021, INX became the first SEC-registered digital security IPO – closing with $83.6M gross proceeds from over 7,300 retail and institutional investors. 92.9M INX Tokens were sold in the IPO. INX continues to lead the industry in providing novel trading and capital-raising financial instruments to enterprises and companies worldwide.
INX provides a regulated trading platform for digital securities and cryptocurrencies. With the combination of traditional markets expertise and a disruptive fintech approach, INX provides state-of-the-art solutions to modern financial problems. INX is led by an experienced and dedicated team of business, finance, and technology veterans with the shared vision of redefining the world of capital markets via blockchain technology and innovative regulatory approach.
INX is the holding company for the INX Group, which includes regulated trading platforms for digital securities and cryptocurrencies, combining traditional markets expertise and an innovative fintech approach. The INX Group’s vision is to be the preferred global regulated hub for digital assets on the blockchain. The INX Group’s overall mission is to bring communities together and empower them with financial innovation. Our journey started with our initial public token offering of the INX Token in which we raised US$83 million. The INX Group is shaping the blockchain asset industry through its willingness to work in a regulated environment with oversight from regulators like the SEC and FINRA.
In addition to operating two regulated trading platforms for blockchain assets, INX’s interdealer broker, I.L.S. Brokers, plans to offer non-deliverable cryptocurrency forwards to Tier-1 banks in the future. For more information, please visit the INX Group website here.
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