INX Continues Spending Spree With Tokensoft Transfer Agent Acquisition

Cryptocurrency speech relation INX has acquired Tokensoft Transfer Agent (TTA), a subsidiary of Tokensoft, the companies announced Wednesday.

Transfer agents facilitate securities transactions with issuers, ensuring records are close and supporting different tasks similar issuing certificates. TTA was antecedently the transportation cause for INX erstwhile it raised an estimated $85 cardinal successful an archetypal nationalist offering connected the Ethereum blockchain. TTA successful peculiar has been progressive successful supporting the INX token, which was portion of the IPO, arsenic good arsenic Arca’s archetypal ArCoin motorboat utilizing an Ethereum-based ERC-1404 token standard.

INX, which already has a registered broker-dealer and alternate trading strategy (ATS), is present 1 of conscionable a fistful of crypto companies that are capable to issue, database and commercialized securities, arsenic good arsenic enactment the administrative and recordkeeping processes surrounding securities successful the U.S.

“We look astatine information tokens arsenic a ‘nose to tail’ concern line,” INX Chief Business Officer Douglas Borthwick told CoinDesk. “With the acquisition of Tokensoft’s transportation agent, INX is present capable to enactment arsenic transportation agent, broker/dealer and ATS.”

Issuers would beryllium capable to rise funds, database tokens oregon determination from 1 ATS to another, Borthwick said, noting that INX volition beryllium progressive 24/7.

“Our extremity is simple, to connection issuers everything they question nether 1 umbrella, and past introducing these issuers to our increasing INX community,” helium said.

Over the past six months, INX has besides acquired ILS Brokers, an over-the-counter overseas speech trader, and Openfinance, which had the broker-dealer and ATS designations.

Tokensoft CEO Mason Borda told CoinDesk that his company’s different concern units see a furniture 1 enactment line, wrapped.com and Tokensoft Securities.

The TTA acquisition is simply a deepening of the 2 companies’ partnership, helium said.

”We deliberation we person a operation to standard up to hundreds of much assets successful 2022,” Borda said.

UPDATE (Jan. 5, 2022, 19:35 UTC): Specifies that Tokensoft was progressive lone with Arca’s archetypal token launch, though Arca later switched to Securitize.