INX Digital, a broker-dealer and crypto trading platform, has launched a bidding war for the assets of bankrupt cryptocurrency lender Voyager Digital.
According to a company announcement, the company placed a bid for the assets via a non-binding Letter of Intent (LOI).
The company joins other bidders, including cryptocurrency exchange Binance, planning an offer for the loan platform. As Coincu reported, CEO Changpeng Zhao later corroborated the report.
Shy Datika, CEO of INX, stated in the release:
“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.
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.”
Voyager‘s bankruptcy filing in the United States District Court for the Southern District of New York in July was swiftly followed by a bidding war for its assets. FTX won that battle, but the bidding was reopened after that exchange declared bankruptcy two weeks earlier.
Several crypto companies that participated in the original auction, including Binance.US, Wave Financial, and CrossTower, plan to resubmit offers.
INX did not participate in the September auction. INX One, a regulated trading platform for security tokens and cryptocurrencies, was launched in September, and the company raised $85 million from over 7,300 investors in the first SEC-registered digital security IPO last year.
About The INX Digital Company, Inc. It is the holding company for the INX Group, which includes regulated trading platforms for digital securities and cryptocurrencies, combining traditional markets expertise and an innovative fintech approach.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Website: coincu.com
Harold
Coincu News
