The INX Digital Company, Inc. said today that it has sent a non-binding Letter of Intent to buy Voyager Digital Ltd’s assets. This comes after Voyager Digital Ltd filed for bankruptcy. INX is one of the companies that are competing to buy Voyager’s assets.
INX’s offer to buy Voyager takes advantage of the fact that it is both a broker-dealer/ATS regulated by the FINRA and the SEC and a platform for trading cryptocurrencies in 43 US states and territories where it has money transmitter licenses or is otherwise allowed to operate.
INX.One is an end-to-end regulated platform that lets you trade, issue, mint, and settles security tokens and cryptocurrencies instantly. Security tokens can be used to give people a share of the profits, the right to vote, or a piece of the equity. They can also be used as part of a plan to restructure debt or recover losses from bankruptcy.
Our bid is a strategic next step in executing INX’s vision to democratize finance and reshape existing paradigms in the market by leveraging the power and versatility of its regulated trading platform,” said Shy Datika, CEO of INX. “We believe that INX can offer the right combination of credibility, technology, and unique regulatory positioning to protect Voyager customers and creditor interests – giving them the stability they are looking for.
David Weild, INX’s chairman of the board and former Vice Chairman and Executive Vice President at Nasdaq, said, “As market structure continues to change based on automated blockchain technology in a regulated environment, new digital solutions will democratize finance and lay the groundwork for a revolution in innovative security solutions.”
Voyager Digital got permission from the Court for FTX to buy it, but the deal fell through when FTX filed for Chapter 11 bankruptcy on November 11, 2022. Voyager has been looking into other options since then.
