'The digital revolution is heading its way into the finance world. It is well-known that the future of finance relies on crypto currencies and digital securities – but it is still hard to understand how it can be transformed into reality. INX Limited ("INX") realizes this vision and now becomes the bridge between traditional finance and the world of cryptocurrencies, digital securities and other digital assets under one global regulated hub.
INX (inx.co) is a crypto trading powerhouse, founded in 2017, the owner of blockchain-based platforms for trading digital securities and cryptocurrencies. It’s mission is to bring regulated digital asset opportunities to all investors. The INX Token is the first SEC-registered digital security IPO for both retail and institutional investors. Through its digital securities platform, INX plans to provide innovative trading and capital raising financial instruments to enterprises and companies worldwide.
As part of its vision, INX announced last June that it had acquired ILS Brokers Ltd (ILSB) for $4.7 Million. Established in 2001, ILS Brokers Ltd. is an Israel-based interdealer-broker with over 50 tier-1 and tier-2 global bank relationships focusing on OTC trading of FX, interest rate and other derivative products. ILS Brokers is an NFA member, registered as an introducing broker and swap firm and holds other licenses in Israel. The acquisition will allow INX to expand its global institutional reach while focusing on lead generation and OTC trading. INX envisions a multifaceted platform offering digital assets, integrated with other services while being regulatory compliant.
Prior to this acquisition, INX announced the closing of its acquisition of Openfinance Securities, LLC, a FINRA-regulated broker-dealer and alternative trading system for digital assets, along with a significant partnership with Japanese FX giant, GMO Trust, to list the GYen, the first Yen-pegged stable coin launched with New York Department of Financial Services approval.
INX President & Co-founder, Shay Datika, says: "I believe that through these recent events, INX is systematically cementing its position as the bridge between traditional finance and the world of cryptocurrencies and digital securities. The purchase of this interdealer-broker offers another building block and touchpoint linking traditional finance with the cryptocurrency and digital security space, offering a full range of traditional and digital brokerage services.
"We believe that cryptocurrency non-deliverable-forward (NDF) trading by global institutions will take the spotlight, especially given most institutions are looking for a way to trade cryptocurrency price volatility without the responsibility of actually holding the underlying assets. This acquisition puts us squarely in a position to provide markets in deliverable and non-deliverable currencies and cryptocurrencies to institutions in parallel with our digital securities and cryptocurrency trading platforms".
Shay Datika was one of the original founders of ILS Brokers, but several years ago he sold most of his shares (75%) to Leader Capital Markets.
To teach the banks how to work with crypto currencies
"Our mission is to merge the new world into the old world", says Shay Datika. "ILS will continue to generate transactions between banks, but not far away into the future these transactions will be done not only with regular currencies such as Dollar, Shekel and Euro, but also with Bitcoin, Ethereum and other crypto currencies and new asset classes of financial instruments and digital assets. This kind of synergy is possible now – after the acquisition, and INX is now ready to lead this revolution".
Datika has more than 25 years of experience in the banking and finance industry. He held a significant role in the adoption of electronic trading in the global OTC foreign exchange (OTC Forex) market as well as in the brokerage activity and online trading business. During the last 20 years, Datika has been extensively involved in financial technology (“fin-tech”) as an investor, director or manager of several companies, including as an independent (external) director and Chairman of the Investment Committee and member of the Audit Committee of Altshuler Shaham provident funds and Pension Ltd. Prior to that, he was a senior dealer in Bank Hapoalim heading the G7 spot desk, with extensive knowledge in the areas of fin-tech and trading.
INX Blockchain Asset Trading Solutions
INX has invested three years developing its proprietary trading technology with a unique, regulation minded ground-up approach. INX solutions will debut listing and trading of digital assets with full regulatory compliance, fair trading policies, security protocols and privacy procedures. The company aims to address cross-border, high-volume trading as a unique matching engine runs behind a robust and scalable set of microservices predominantly focused on regulated trading. INX technology is a cloud-enabled, highly scalable system, based on Kubernetes technology and supports the trading of various digital assets, not limited to one or two blockchains.