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INX Limited

Blockchain-based platform for trading digital securities and cryptocurrencies

Summary

INX Limited is a blockchain-based platform for trading digital securities and cryptocurrencies in accordance with SEC, FINRA and EU regulations.

History

Founded in 2017 and registered in Gibraltar, INX was founded by financial market, cryptocurrency and technology experts with a shared vision of revolutionizing the world of finance and financial crypto trading.

INX announced in January 2018 its submission of a confidentially-filed draft registration statement to the US Securities and Exchange Commission (SEC) for an initial public offering of the INX Token.

In August 2020, INX announced its initial public offering of up to 130 million INX Security Tokens. INX set the offering price at $0.90 per Token with a minimum investment of $1,000.

INX intended to use a portion of the net proceeds raised from the sale of INX Tokens in the Offering for the continued development and operation of INX Trading Solutions.

Four days after the INX Security Token IPO was announced, the U.S. Securities and Exchange Commission (SEC) declared effective the INX registration statement on Form F-1 filed in connection with the initial public offering. INX, then, became the first SEC Registered (F1) Security Token IPO in US history.

In October, 2020, INX announced its application for listing of its digital security, the INX Token, on the Canadian Securities Exchange (“CSE”). Richard Carleton, CEO of the CSE said about this: “The CSE is working hard towards listing solutions that cater to a rapidly changing and increasingly digitized capital markets environment. Digital securities represent a logical evolution in how investment instruments are constructed, issued, and traded on a regulated marketplace. It comes as no surprise that new product innovations are originating from Israel, where the culture of entrepreneurship and technical leadership are a perfect fit with our exchange.”

Products

INX has created a blockchain-based platform for trading digital securities and cryptocurrencies from where they offer a fully-licensed and regulated cryptocurrency, security token and derivatives trading platform.

Team

INX team has over 60 years of combined experience in regulated global financial markets, trading, fintech, banking and brokerage, over 5 years of experience in cryptocurrency and blockchain-related services, and over 30 years of enterprise-grade R&D and system architecture design.

Shy Datika – Co-founder & President

Mr. Shy Datika is one of the founders and is the current President. Mr. Datika has more than 25 years of experience in the banking and finance industry. As founder and former Chief Executive Officer of ILS Brokers, a multinational brokerage house based in Tel-Aviv, Israel, Mr. Datika has a significant role in the adoption of electronic trading in the global OTC foreign exchange (OTC Forex) market as well as in the brokerage activity and online trading business. During the last 20 years, Mr. Datika has been extensively involved in financial technology (“fin-tech”) as an investor, director or manager of several companies, including as CEO of ForexManage Ltd., a software company providing professional technology platform solutions for institutional risk management and trading activities in the forex and interest rate derivatives markets for the banking industry, anyoption, Ouroboros Ltd (CySec licenced CIF) and as an independent (external) director and the Chairman of the Investment Committee and member of the Audit Committee of Altshuler Shaham provident funds and Pension Ltd. Prior to that, he was a senior dealer in Bank Hapoalim heading the G7 spot desk. Mr. Datika possesses broad knowledge in the areas of fin-tech and trading and has an extensive track record in building sustainable businesses in the financial market. Mr. Datika serves as a director on the board of numerous private companies.

Alan Silbert – Executive Managing Director

Mr. Alan Silbert is a director of the Company and Executive Managing Director of INX Services. He joined the Company in March 2018. Mr. Silbert is responsible for launching the INX Services operations in North America, including facilitating the build-out of the director and advisor team, raising capital, growing operations and infrastructure for North American operations and leading the registration processes for broker-dealer and alternative trading system licenses. From December 2015 until March 2018, he was Senior Vice President at Capital One Commercial Banking, serving on the Asset Based Lending and Life Science Finance/Venture Debt teams. Prior to that, he was Vice President at GE Capital. From February 2013 until October 2017, he served as founder and Chief Executive Officer of BitPremier LLC, a bitcoin luxury marketplace. Mr. Silbert received his BS in Business Administration with a concentration in Finance from Towson University.

Itai Avneri – Chief Operating Officer

Mr. Itai Avneri brings over 20 years of executive management experience into his new role as COO. His commercial work spans a variety of technology companies, including Playtech Group-CMO and CEO of the Israel office, COO of anyoption and CEO of invest.com in Israel, where he spearheaded the shift to cryptocurrency. Mr. Avneri has led the launch of multiple financial services and products in Europe and South Africa among other regulated jurisdictions. He designed and built advanced information systems with specializations in trading, BI & CRM solutions, marketing and KYC automation as well as payments and integration hubs. Mr. Avneri holds a BA in Economics and Information Technology from Ruppin Institute and MBA from the Inter-Disciplinary School

Douglas Borthwick – Chief Marketing Officer

Mr. Douglas Borthwick is Chief Marketing and Business Development Officer of INX Services. Mr. Borthwick has over 25 years of experience in the finance industry, most recently founding and building the Chapdelaine FX electronic and voice trading business for inter-dealer broker TP-ICAP from 2012 to September 2018. Mr. Borthwick held various roles with Morgan Stanley from 1996 through 2005; managing foreign exchange derivatives trading groups in New York and London, with a strong focus on emerging markets. He then ran the strategic trading desk at Merrill Lynch from 2005 to 2006, and the Latin American FX trading business at Standard Chartered from 2006 to 2009. In 2010, Mr. Borthwick managed trading and research areas for startup foreign exchange agency, Faros Trading, a company that was later sold to FXCM in 2013. Mr. Borthwick holds a bachelors of science in Economics from Carnegie Mellon University and an MBA from Yale University’s School of Management.

Paz Diamant – Chief Technology Officer

Mr. Paz Diamant is the Chief Technology Officer. Mr. Diamant has more than 25 years of experience in the banking and financial technology industry. From November 2013 to January 2020, Mr. Diamant held several roles at eToro, a worldwide leading social investment network, where he was most recently Managing Director of R&D and Product. In that role he directed the design, development, and deployment of the company’s cloud-based exchange system, and was responsible for the development of eToro’s complicated hedging algorithms.  Prior to that, Mr. Diamant was the founder and Chief Executive Officer of ForexManage Ltd., a leading provider of advanced, real-time, risk management and foreign exchange online trading technologies for the banking industry. Mr. Diamant has had a significant role in the adoption of advanced risk management models in major European banks and brokerage houses. He managed R&D teams for several years while implementing cutting-edge, cloud-based technologies successfully. Mr. Diamant holds a BS in Physics from the Technion – Israel Institute of Technology, where he graduated cum laude, and a MBA, Finance from Bar-Ilan University.

Oran Mordechai – Chief Financial Officer

Mr. Oran Mordechai is the Chief Financial Officer. Prior to joining INX in December 2017, Mr. Mordechai worked at Ernst & Young Israel for 13 years in several different positions. Mr. Mordechai’s last role was as senior manager in the high-tech practice, leading and managing diverse client accounts, including start-ups through exits, domestic, multinational and publicly traded companies. Mr. Mordechai’s business experience includes corporate finance, international corporate tax, mergers and acquisitions and initial public offerings. Mr. Mordechai holds a BA in Economics, Management and Accounting from The College of Management and a MBA of Business Administration Finance and Financial Management Services from Tel-Aviv University and is a Certified Public Accountant. Mr. Mordechai is also the founder of Insight Finance, through which he provides financial services to his clients, including us.

References

https://www.sec.gov/Archives/edgar/data/1725882/000121390020023202/ea125858-424b1_inxlimited.htm

https://www.inx.co/news/inx-applies-for-listing-on-the-canadian-securities-exchange

https://inx-co.medium.com/

https://www.inx.co/about-us

https://token.inx.co/?_ga=2.33884584.866164318.1615800180-746656149.1615800180

https://www.linkedin.com/company/inxlimited/

https://www.intelligenthq.com/inx-the-first-sec-registered-security-token-ipo-focus-interview-with-douglas-borthwick-cmo-and-head-of-business-development/