INX Continues Spending Spree With Tokensoft Transfer Agent Acquisition

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.INXLimited has acquired TokensoftInc's transfer agent subsidiary, allowing it to support all aspects of issuing a security token. nikhileshde reports

Cryptocurrency exchange operator INX has acquired Tokensoft Transfer Agent , a subsidiary of TokenSoft, the companiesTransfer agents facilitate securities transactions with issuers, ensuring records are accurate and supporting other tasks like issuing certificates. TTA was previously the transfer agent for INX when it raised an estimated $85 million in an initial public offering on the Ethereum blockchain.

INX, which already has a registered broker-dealer and alternative trading system , is now one of just a handful of crypto companies that are able to issue, list and trade securities, as well as support the administrative and record-keeping processes surrounding securities in the U.S. “We look at Security Tokens as a ‘nose to tail’ business line,” INX Chief Business Officer Douglas Borthwick told CoinDesk. “With the acquisition of Tokensoft’s transfer agent, INX is now able to act as Transfer Agent, Broker/Dealer and ATS.”

Issuers would be able to raise funds, list tokens or move from one ATS to another, Borthwick said, noting that INX would be active 24 hours a day and every day in a year. “Our goal is simple, to offer issuers everything they seek under one umbrella, and then introducing these issuers to our growing INX community,” he said.

 

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