Crypto IPO issuer INX has announced that its acquisition of security token offering platform OpenFinance is almost complete.

According to an e-mail sent to OpenFinance users, the parties are now just pending regulatory approving to complete the change in buying. INX — which is licensed by the U.Due south. Securities and Substitution Commission — expects its digital asset and securities trading platforms volition be launched "in the next few months."

The acquisition volition come across INX take on OpenFinance'south 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 than quadruple INX'southward user base.

Shy Datika, INX's president and founder, said that "the banker-dealer and ATS business enables investors to trade security tokens on the OpenFinance platform."

"Now nosotros wait to get live a few months after closing [the bargain] with both our cryptocurrency trading platform and a fully-regulated securities trading platform."

According to Security Token Group'southward December 2020 report, Openfinance currently hosts pairings for five tokens representing a combined market cap of nearly $27.7 million, or roughly 7.iv% of the full security token capitalization. However, monthly volume across the platform was just $6,660.

INX plans to build on the existing listings, announcing futurity support for the tokens of diamond market place-maker Diamond Standard, Wave'due south Kentucky Whiskey Fund, digital real estate platforms Klickown and Solidblock, and the in-game currency for Pixelmatic's upcoming MMO strategy game.

In December, security tokens collection roughly $2.7 million in monthly volume. Notwithstanding, 95% of the action took identify on Overstock'southward tZERO platform.