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INX to Issue SEC-Regulated CCNA Token, Emphasizing 'Future of Green Automotive Transportation and Logistics' Concept

INX Digital Company, Inc., a US-regulated broker-dealer, ATS, and transfer agent, announced on July 5, 2023, its facilitation of the primary capital raise and issuance of Convertible Concepts Corporation’s CCNA Token. The digital security token, regulated by the SEC, offers accredited U.S. and international investors the chance to invest in the future of green automotive transportation and logistics. The token is available for a minimum investment of $2,000, with $15 million already raised.

The CCNA Token is the seventh token offering on INX.One in less than a year. Itai Avneri, Deputy CEO & COO of INX, stated, “By democratizing alternative investments, investors from all over the world are able to benefit from the wealth of opportunities available through digital assets like the CCNA Token – especially in industries like the automotive and logistics industry, which is ripe for disruption.”

Convertible Concepts aims to address the automotive transportation industry’s issue of single-use equipment, which results in empty return trips for vehicle transporting trailers. This inefficiency accounts for 42% of auto transport miles, 2 billion gallons of wasted diesel fuel, and 22 million tonnes of avoidable CO2 emissions globally each year. The company’s convertible trailers, versatile freight boxes, and software-driven logistics solutions aim to reduce these inefficiencies and environmental impact.

Bill Pawluk, CEO of Convertible Concepts Corporation, commented, “This problem is our opportunity, as we monetize normally empty miles reducing carbon footprint, improve efficiencies and help reduce the cost of the distribution of finished vehicles. All automotive stakeholders, including the customer, stand to benefit from Convertible solutions.”

The CCNA token offers its holders 40% of total CCNA profits in North America without a cap on ROI. The INX.One platform, the only fully-regulated platform for listing and trading both SEC-registered security tokens and cryptocurrencies, will facilitate the token offering.

INX, led by an experienced team of business, finance, and technology veterans, provides regulated trading platforms for digital securities and cryptocurrencies. With a combination of traditional markets expertise and a disruptive fintech approach, INX aims to redefine the world of capital markets via blockchain technology and a disciplined regulatory approach. The INX Group’s vision is to be the preferred global regulated hub for digital assets on the blockchain, bringing communities together and empowering them with financial innovation. The INX Group is shaping the blockchain asset industry through its willingness to work in a regulated environment with oversight from regulators like the SEC and FINRA.

INX to Tokenize and List Casper Labs Equity on Regulated ATS Platform

Accordint to Blockchain.News, INX Digital Company, Inc. (NEO: INXD, INXATS: INX, OTCQB: INXDF), a US-regulated broker-dealer, ATS, and transfer agent, announced on July 19, 2023, that it will tokenize and list the equity of Casper Labs, a leading enterprise blockchain software provider.

Casper Labs has chosen INX as its preferred platform for tokenizing and listing its equity for trading on the secondary market. This move signifies Casper Labs’ commitment to embracing regulations and the future of finance, as well as the potential of digital assets.

The collaboration will allow Casper Labs shares to be accessible to a potential global liquidity pool of retail and institutional investors in over 60 countries through the INX.One platform. INX.One is the only fully-regulated platform for listing and trading both SEC-registered security tokens and cryptocurrencies.

The listing of Casper Labs equity on INX.One is scheduled for September 2023, providing prospective buyers with ample time to register on the INX platform and participate in this groundbreaking opportunity. The tokenization and listing of Casper Labs equity represent a pivotal moment in the industry, reinforcing tokenization as the leading use case driving the global adoption of digital assets by retail and financial institutions.

Casper Labs, founded in 2018, built the Casper protocol, the first blockchain specifically designed for business users. A recent report from Casper Labs, which surveyed over 600 C-level executives across the U.S., U.K., and China markets, found that 87% of businesses plan to invest in blockchain initiatives in 2023.

INX’s mission is to increase access for U.S. and international investors to the growing opportunities in the digital economy. The INX.One platform aims to democratize financial markets while providing necessary regulatory guardrails through close collaboration with U.S. and global regulators.

INX to renew Share and Token Repurchase Programs

The INX Digital Company, Inc. (NEO: INXD, INXATS: INX, OTCQB: INXDF), a regulated digital asset trading platform owner, announced on August 9, 2023, its intention to renew its normal course issuer bid (NCIB) program to repurchase common shares of the company. Alongside this, INX’s subsidiary, INX Limited, intends to renew its INX Token repurchase program.

NCIB Program Details

The NCIB, accepted by the Neo Exchange Inc., operating as Cboe Canada, allows the company to purchase up to 12,713,823 Common Shares, approximately 10% of the public float as of July 28, 2023. The aggregate purchase price for any Common Shares acquired under the NCIB and INX Tokens acquired under the token repurchase program must not exceed US$5 million.

Purchases under the NCIB may be made through open market transactions on the NEO Exchange and/or Canadian alternative trading systems. Daily purchases cannot exceed 31,348 Common Shares, 25% of the average daily trading volume on the NEO Exchange, measured from January 26, 2023, to July 26, 2023. Any Common Shares purchased will be canceled.

INX Limited Token Repurchase Program

Under this program, repurchases can be made using various methods, including open market purchases, in compliance with U.S. SEC rules and other legal requirements. The repurchase program does not obligate the company to acquire any specific number of tokens, and it may be suspended or discontinued at INX Limited’s discretion. INX Tokens purchased will be retired.

Timing and Conditions

The period during which purchases under the NCIB and token repurchase program will commence on August 11, 2023, and end at the earliest of August 10, 2024, or when the aggregate maximum number of Common Shares are purchased, or when the aggregate purchase price reaches US$5 million.

Under its prior NCIB that commenced on March 23, 2022, and expired on March 23, 2023, INX purchased 96,500 Common Shares and did not repurchase any INX Tokens.

Broker Appointment

The company has appointed PI Financial Corp. as the broker to conduct purchases under the NCIB, in accordance with the policies of the NEO Exchange.

Republic Invests $5.25 Million into INX at a Valuation of $50 Million

The INX Digital Company, Inc., a US-regulated broker-dealer, ATS, and transfer agent, has announced the successful conclusion of its initial investment phase with OpenDeal Inc., also known as Republic. This development comes as part of the Subscription Agreement dated June 15, 2023, between the two entities. Republic, a renowned global financial firm, has acquired 9.5% of INX’s shares with an investment of US$5.25 million, reflecting a pre-money valuation for INX of approximately US$50 million.

This collaboration aims to expand the scope of tokenization infrastructure and democratize access to digital assets globally. Following this investment, both INX and Republic are considering a non-binding term sheet related to the potential acquisition of all issued and outstanding share capital of INX by Republic, which could amount to up to US$120 million.

Shy Datika, CEO of INX, emphasized the significance of this partnership, stating, “This is more than just a business investment; it’s an investment in the future, which begins with a deep-rooted collaboration to reshape the global financial landscape.”

Kendrick Nguyen, CEO of Republic, mirrored this sentiment, highlighting the broader vision of reimagining how both institutional and retail investors engage with digital finance.

The collaboration between Republic and INX encompasses a Subscription Agreement, facilitating a synergy of cash and shares, and a Collaboration Agreement. This partnership aims to:

Make INX’s tokenized asset services available for secondary market trading on the INX ATS.
Integrate INX’s trading mechanisms for pivotal digital assets, such as Bitcoin and Ethereum, with Republic’s vast ecosystem.
Incorporate Republic’s FX broker-dealer capabilities into the INX infrastructure.
List the Republic Note on the INX ATS and integrate the INX trading platform with the comprehensive Republic Wallet.

INX has also engaged Weild Capital, LLC to act as its financial advisor in connection with the Republic investment. David Weild, the principal of Weild Capital, LLC, serves as the chairman of the INX board.

INX’s Recent Strategic Initiatives

IOn August 9, 2023, The INX Digital Company, Inc. announced its intention to renew its Normal Course Issuer Bid (NCIB) program to repurchase its common shares. Concurrently, its subsidiary, INX Limited, plans to renew its INX Token repurchase program. Accepted by the Neo Exchange Inc., the NCIB allows the company to purchase up to 12,713,823 Common Shares, approximately 10% of its public float as of July 28, 2023. The combined purchase price for both programs is capped at US$5 million. The programs will commence on August 11, 2023, and conclude by August 10, 2024.

On July 19, 2023, The INX Digital Company, Inc. announced a collaboration with Casper Labs, a leading enterprise blockchain software provider. Casper Labs has chosen INX as its platform to tokenize and list its equity for secondary market trading. This move showcases Casper Labs’ commitment to digital assets and regulatory compliance. The listing on INX’s regulated ATS, INX.One, will grant global access to Casper Labs’ shares for investors in over 60 countries. The equity tokenization and listing are set for September 2023, marking a significant step in the adoption of digital assets.