INX Digital (INXD) Posts Massive Gains Amidst Crypto Crackdown
INX Digital (NEO: INXD)(OTC: INXDF) is a blockchain technology provider that is a disruptor in the field of fully regulation-compliant crypto and token trading and listing solutions. The company launched its INX security token in 2017 in a process that was groundbreaking in its close supervision by the SEC. In the years since, INX went public on stock exchanges so equity investors could likewise benefit from its revolutionary approach to the blockchain industry. Furthermore, numerous companies have performed primary token offerings on their in-house platform in what represents the future of capital raising in the world of web 3.0.
Over the course of recent months, INX has seen an injection of momentum that can be pinpointed to a strategic investment by Republic Group, a NYC-based FSIB provider that is working to penetrate the booming blockchain market. The deal was for a $5.25M investment in INX, representing a 9.5% stake in the company. Furthermore, the two have entered into a non-binding prospective term sheet that raises the prospect of an acquisition for a valuation of up to $120M.
In response to the strategic investment, INXD and INXDF share price skyrocketed, with both posting triple digit gains YTD. Recent Q2 financials reported by INX to Canadian regulatory authorities furthermore testify to the company's strong financial position and fast-growing user base as well as net amount of funds under management. Revenue in Q2 increased 16% YoY, whereas new customer registration rose by 50% compared to Q1 '23.
Looking forward, INX seems aggressively positioned for forward growth in the midst of ongoing M&A negotiations. The term sheet with Republic Group is a promising start, but the robust performance of share price testifies to the fact that investors may be expecting an even bigger deal from major players in the crypto market like Coinbase (COIN), Binance (BNB), or Ripple (XRP). As major exchanges are increasingly embattled by US litigation and increased regulatory scrutiny, the INX solution opens a path for a legal, transparent, and secure blockchain space.
Over the course of recent months, INX has seen an injection of momentum that can be pinpointed to a strategic investment by Republic Group, a NYC-based FSIB provider that is working to penetrate the booming blockchain market. The deal was for a $5.25M investment in INX, representing a 9.5% stake in the company. Furthermore, the two have entered into a non-binding prospective term sheet that raises the prospect of an acquisition for a valuation of up to $120M.
In response to the strategic investment, INXD and INXDF share price skyrocketed, with both posting triple digit gains YTD. Recent Q2 financials reported by INX to Canadian regulatory authorities furthermore testify to the company's strong financial position and fast-growing user base as well as net amount of funds under management. Revenue in Q2 increased 16% YoY, whereas new customer registration rose by 50% compared to Q1 '23.
Looking forward, INX seems aggressively positioned for forward growth in the midst of ongoing M&A negotiations. The term sheet with Republic Group is a promising start, but the robust performance of share price testifies to the fact that investors may be expecting an even bigger deal from major players in the crypto market like Coinbase (COIN), Binance (BNB), or Ripple (XRP). As major exchanges are increasingly embattled by US litigation and increased regulatory scrutiny, the INX solution opens a path for a legal, transparent, and secure blockchain space.