INX, a trailblazing player in the crypto space, has added seven new SEC-registered security tokens to its robust portfolio. This move further solidifies the company’s reputation as a pioneer in the regulated cryptocurrency market, offering investors a secure and compliant way to explore the world of digital assets.
In a significant development for the cryptocurrency industry, The INX Digital Company, Inc. (INX), the first SEC-registered exchange token, has announced the listing of seven new SEC-registered security tokens since Q4 2022. This move underscores INX’s commitment to regulatory compliance during a period of increased scrutiny by regulatory bodies such as the United States Securities and Exchange Commission (SEC).
INX has strategically navigated the turbulent waters of the crypto industry, focusing on compliance and adhering to regulations from its inception. This approach has set INX apart at a time when major crypto exchanges and blockchain-powered enterprises face legal challenges and regulatory hurdles.
As the market for security tokens continues to grow and gain momentum among institutions across various asset classes, it is evident that the steps we have taken in the past years were crucial and laid the right foundation for INX to thrive.said INX CEO Shy Datika.
INX’s dedication to compliance has paid off, as their SEC approval validates their proactive approach to regulation.
INX’s New SEC-Registered Tokens
In Q2 2023, INX introduced three new primary offerings to investors exclusively on the INX.One trading platform, bringing the total to seven new SEC-registered security tokens added to the list since Q4 2022. These security tokens are expected to be available for trading in the secondary market on INX.One, where the INX token is already actively traded.
The newly listed tokens on INX.One are:
1. Trucpal (TRUCPAL): A digital financial and tax software company catering to the logistics industry in China.
2. Advent Entertainment (ATX): Based in Utah, US, specializing in entertainment, gaming, and virtual reality.
3. Treasure Experience (TRZX): A virtual marine exploration and treasure hunting company located in Florida, US.
4. TurnCoin (TXC): A company from Gibraltar that deals with digital trading cards and talented individuals trading platforms.
5. XManna (XMNA): Focused on metaverse and web3 technology in Florida, US, with a focus on expanding commerce and fan engagement in professional sports, advertising, and gaming.
6. Hashrate Asset Group (HAG): A digital assets technology and Bitcoin mining company registered in the British Virgin Islands and based in Singapore.
7. Convertible Concepts North America (CCNA): A technology company from Alberta, Canada, registered in Delaware, US, specializing in innovative automotive and freight transportation solutions.
Current Strides and Future Plans
INX’s Q2 2023 financial results demonstrate impressive growth. The company reported a total revenue of $1.6 million for the quarter, with a significant portion stemming from transaction and brokerage fees. This represents a remarkable 161% increase compared to the revenue for Q2 2022. Additionally, INX saw a 50.1% rise in new customer registrations from the previous quarter.
Looking ahead, INX is actively working to bolster its compliance and technology framework. It plans to support tokens based on Ethereum, Polygon, and Avalanche blockchains for secondary listing. The company has also expanded its money transmitter licenses and registrations, allowing it to offer cryptocurrencies in 46 US states and territories. Globally, INX.One is expanding its reach, with over 160 countries now supported on the platform.
Amidst regulatory challenges affecting many industry leaders, INX is poised to lead the future of crypto, leveraging its commitment to compliance and its robust platform to provide innovative solutions to investors worldwide.