{"id":164743,"date":"2021-01-28T03:55:43","date_gmt":"2021-01-28T00:55:43","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/inxs-acquisition-of-security-token-platform-openfinance-almost-complete\/"},"modified":"2021-01-28T03:55:43","modified_gmt":"2021-01-28T00:55:43","slug":"inxs-acquisition-of-security-token-platform-openfinance-almost-complete","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/inxs-acquisition-of-security-token-platform-openfinance-almost-complete\/","title":{"rendered":"# INX\u2019s acquisition of security token platform OpenFinance almost complete"},"content":{"rendered":"

“# INX\u2019s acquisition of security token platform OpenFinance almost complete <\/strong>”
\n<\/p>\n

Crypto IPO issuer INX has announced that its acquisition of security token offering platform OpenFinance is almost complete.<\/p>\n

According to an email sent to OpenFinance users, the parties are now just awaiting regulatory app<\/a>roval to complete the change in ownership. INX \u2014 which is licensed by the U.S. Securities and Exchange Commission \u2014 expects its digital asset and securities trading platforms will be launched \u201cin the next few months.\u201d<\/p>\n

The acquisition will see INX take on OpenFinance\u2019s broker-dealer and alternative trading system, or ATS, business, including all licenses, digital asset listings, as well as its customer base. The move is expected to more than quadruple INX\u2019s user base.<\/p>\n

Shy Datika, INX\u2019s president and founder, said <\/a>that \u201cthe broker-dealer and ATS business enables investors to trade security tokens on the OpenFinance platform.\u201d<\/p>\n

\u201cNow we expect to go live a few months after closing [the deal] with both our cryptocurrency trading platform and a fully-regulated securities trading platform.\u201d<\/p><\/blockquote>\n

According to Security Token Group\u2019s December 2020 report<\/a>, Openfinance currently hosts pairings for five tokens representing a combined market cap of nearly $27.7 million, or roughly 7.4% of the total security token capitalization. However, monthly volume across the platform was just $6,660.<\/p>\n

INX plans to build on the existing listings, announcing future support for the tokens of diamond market-maker Diamond Standard, Wave\u2019s Kentucky Whiskey Fund, digital real estate platforms Klickown and Solidblock, and the in-game<\/a> currency for Pixelmatic\u2019s upcoming MMO strategy game.<\/p>\n

In December, security tokens drove roughly $2.7 million in monthly volume. However, 95% of the activity took place on Overstock\u2019s tZERO platform.<\/p>\n