Crypto exchange INX takes over Openfinance Securities

By Pavithra R

INX Limited, revolutionizing the world of finance and financial crypto trading has announced signing a term sheet to acquire Openfinance Securities a registered broker-dealer and registered FINRA / SIPC member company, with an alternative trading platform. The transaction is subject to the final agreement, regulatory approvals and other closing conditions.

Openfinance is the leading secondary market trading platform for digital alternative assets. Under the terms of the deal, INX will take over the broker-dealer of Openfinance and the ATS business, including its systems, digital asset lists, customer base and licenses. 

“Digital securities embody a new development in traditional capital markets. There are great benefits in listing and trading digital assets over traditional equity securities. Openfinance is a pioneer in this field and has earned special recognition from Wall Street, the blockchain community, and US regulators. We are extremely proud to add these incredible achievements to our INX portfolio – and now offer investors broader access to liquidity,” said Shy Datika, President and Founder of INX.

INX plans to bolster its leadership position in the digital ecosystem for regulated trading platforms in this area. Openfinance’s listings include companies like Blockchain Capital, Spice VC, and Lottery.com. INX plans to ensure the continuation of operations and services for the customer base of Openfinance.

“INX and Openfinance share the same vision for providing a safe and regulated ecosystem for listing and trading digital assets. We believe that regulatory oversight coupled with liquidity is now making digital assets the financial tool of choice for businesses and investors looking to gain access and capital. The consolidation of the two leading platforms will be a necessary catalyst to lead this industry into the future,” said Jim Stonebridge, CEO of Openfinance.

Founded in 2017, INX’s mission is to bring regulated digital asset opportunities to institutions and retail investors. The firm is led by an experienced and dedicated team of business, finance and technology veterans with the shared vision of redefining the world of regulated security tokens and crypto trading.