INX Digital Company has unveiled INX ONE. The latter will be a single-entry platform that combines security token and cryptocurrency trading. Before this integration, INX Digital offered digital asset trading across different platforms.
INX Digital combines security token and crypto trading
When announcing the platform’s launch, the company said that INX ONE would be the first regulated platform in the world offering trading for cryptocurrencies and SEC-registered tokens.
The company said that the new platform combining the two offerings would serve retail and institutional investors. The company also added that the platform would support token issuance.
According to INX, the unified platform would be fully regulated and bring together the issuance process by ensuring everything needed was offered quickly. Additionally, the company wanted to make it easy to issue a digital security token to secure capital.
The CEO of INX, Shy Datika, also commented on this development, saying that the company would be the pioneer of a new phase of digital asset investments. The goal was to make these investments profitable for both the primary and the secondary markets.
Datika added that “the launch of INX ONE marks a pivotal moment in the evolution of the digital economy. Never before have investors and issuers had an opportunity to bring their unique communities together on a single-regulated, global hub for digital assets on the blockchain.”
In 2021, INX unveiled the first initial public offering. The IPO was for a security token registered with the US Securities and Exchange Commission. During the IPO, INX raised $83.6 million after selling 92.9 million INX tokens.
INX’s pursuits in the crypto sector
INX has been an active participant in the cryptocurrency sector. During the first quarter of 2022, the platform recorded a notable rise in the number of new registrations.
However, in 2021, INX reported a cumulative loss of $215 million and an adjusted net loss of $16.3 million. During the reported financial report, INX recorded a one-time cost of $6.8 million after its initial token offering and reverse merger. An additional $10.9 million was also reported on its share-based payments.
However, the loss has not prevented INX from pursuing its crypto plans. In June, the company unveiled an official crypto app on Google Play Store and App Store. The company said the app would ease cryptocurrency trading on mobile devices during the launch.
In early 2022, INX finalized the acquisition of Tokensoft Transfer Agent LLC. The latter is a transfer agent registered with the SEC. INX discussed this acquisition, saying it would allow the company to provide end-to-end service that will support the insurance of digital securities.