While scores of companies are scrambling to navigate a path forward post-FTX, those built around servicing the regulated digital securities sector have continued marching forward unabated. The following are a few examples of this, with developments coming from each INX, ADDX, and BEX in recent days.
INX to Integrate Avalanche
At barely two years old, the Avalanche network has already managed to attain an impressive amount of adoption. This was most recently on display with INX, a popular exchange specializing in digital securities, announcing the pending integration of Avalanche in to its ‘ONE' platform. With its integration, issuers looking to create digital securities will soon be able to deploy and distribute these assets on the Avalanche network.
INX CEO, Shy Datika, commented on this move, stating, “As INX continues to grow its global issuer and investor community, expanding access to multiple best-in-class blockchains is essential…Avalanche is well-positioned among leading blockchain providers, which enables even greater choice for our diverse line up of security token issuers using the INX.One platform.”
Notably, this is not the first time we have discussed INX in recent weeks. From the exchange announcing its comprehensive platform known as ‘ONE', to its inclusion in our look at the top centralized exchange tokens around, INX is an exchange to keep an eye on.
To learn more about Avalanche, make sure to visit our Investing Guide HERE.
ADDX Tokenizes Innoven Capital Debt Fund
While INX remains busy expanding the functionality of its digital security issuance platform, ADDX has already managed to tokenize another venture debt fund by Innoven Capital.
One of the most commonly touted benefits of digital securities is the ability for such assets to facilitate fractionalization – and for good reason. ADDX notes that in doing so, it was able to reduce the required investment size in this fund to a mere $20,000 for accredited investors. This may still seem like a lot first glance, until you realize that without fractionalization, $20,000 would normally be $5,000,000.
The aforementioned fund, known as the Innoven SEA Fund I, is noted to be structured to provide “…investors a combination of fixed income and equity return, with annual cash distributions.” It maintains a focus on providing funding to tech startups operating out of Southeast Asia.
This announcement by ADDX caps of an impressive run over the past few months, during which the company not only tokenized a portfolio of vintage French wines, but managed to pull in $20M in fresh funding.
BEX Awarded Securities Trading System Licensure
Set to launch in 2023, the BEX Mauritius Block Exchange has just announced that it has cleared a pivotal hurdle along its path, having been awarded a Securities Trading Systems License. Notably, this is stated as being the first licensing of its kind to be issued by the Financial Services Commission (FSC) of Mauritius.
By attaining this licensure, BEX will now have the ability to operate a regulated platform specializing in security tokens upon launch.
BEX CEO, Pascal Niedermann, commented on what this will mean for the exchange as it gears up to go live in the coming months. He states, “This Securities Trading Systems License granted to BEX is a game changer for us and for the participants in the global capital markets. It allows unprecedented and unparalleled cross-border access to capital and innovations. Companies in any industry, including technology, finance, and entertainment, will now have new ways to capitalize on their achievements by directly offering their digital shares to anybody interested in buying and selling such digital shares. We are excited to be part of a necessary ground-breaking transition of the global capital markets into the next chapter of a digital age that has to become inclusive, accessible to anybody, driven by speed, simplicity, security, and transparency.”