The purchase of this interdealer-broker offers INX another building block and touch-point linking traditional finance with the cryptocurrency and digital security space, offering a full range of traditional and digital brokerage services.
United States, June 15, 2021 /AlexaBlockchain/ – INX Limited has completed the acquisition of Israel-based interdealer-broker ILS Brokers Ltd (ILSB). The amount of the deal was not disclosed.
An Inter-dealer broker is specialist financial intermediary that facilitates transactions between broker-dealers, dealer banks and other financial institutions rather than private individuals.
INX Limited
INX Limited is a blockchain-based platforms for trading digital securities and cryptocurrencies. INX Limited provides regulated trading platforms for digital securities and cryptocurrencies, combining traditional markets expertise and an innovative fintech approach.
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.
ILS Brokers Ltd (ILSB)
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. ILSB 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 recently completed acquisition of Openfinance Securities, LLC, a FINRA-regulated broker-dealer and alternative trading system, along with a significant partnership with GMO Trust to list the GYen, the first Yen-pegged stable coin launched with New York Department of Financial Services approval. INX envisions a multitude of digital offerings across asset classes and trading platforms.
Read more: INX Limited Acquires Openfinance Securities
INX President, Shy Datika, commented on the news:
“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 touch-point 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.”