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The INX Digital Company has launched Advent Token, the first digital security offering on its INX ONE platform, enabling profit participation in Hollywood films and entertainment projects. Starting from October 24, 2022, the offering is available to the first 2,000 U.S. accredited investors and all non-U.S. investors. The INX ONE platform is the only fully-regulated venue for trading security tokens and cryptocurrencies, enhancing accessibility and compliance in alternative investments. The Advent Token team includes Academy Award winners and aims to revolutionize fan engagement in the entertainment sector.
The INX Digital Company has appointed Keren Avidar as Global General Counsel, bringing two decades of legal expertise in financial markets. Avidar will oversee legal, compliance, and regulatory guidance as INX aims to bridge traditional and digital economies. CEO Shy Datika expressed confidence in Avidar's role in navigating regulatory frameworks. Avidar is a member of the New York and Israeli Bar Associations and has extensive knowledge of global trading standards, crucial for INX's mission to democratize access to digital assets.
The INX Digital Company has launched INX ONE, a unique platform for trading both SEC-registered security tokens and cryptocurrencies. This innovative solution allows seamless participation for institutional and retail investors in the digital economy. It aims to democratize access to digital assets while ensuring compliance with regulatory standards set by U.S. and global authorities. With INX ONE, users can onboard once, fund their accounts, and transfer between asset classes effortlessly. The platform streamlines the issuance process for token issuers, providing necessary support and licenses.
The INX Digital Company reported its Q2 2022 financial results, highlighting a revenue of $887,000 for the quarter and $2.4MM year-to-date, mainly from transaction fees. Despite a reported net income of $77.3MM, this figure includes significant unrealized gains from the INX Token and a one-time expense of $5.9MM related to a reverse takeover. Adjusted net loss stood at $2.9MM. The company added over 73,000 new users and expanded its product offerings to several new countries, reflecting its growth strategy in the digital asset sector.
INX Digital Company announced the commencement of trading its common shares on the OTCQB under the symbol INXDF, effective August 2, 2022. This new listing aims to enhance visibility and liquidity for investors, extending market access beyond the NEO Exchange where it will continue to trade under the symbol INXD. Additionally, INX received approval from the DTC for electronic clearing and settlement of its shares. These steps are expected to support further growth and attract both retail and institutional investors globally.