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The Acquisition of ILS by INX – A Crypto Trading Regulatory Powerhouse

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Since the advent of Cryptocurrencies, the world of digital finance has taken a revolutionary step towards the future. While there's no doubt that the future wheels of the financial bus rely heavily on cryptocurrencies and the digitalized security it offers, it is still quite difficult to comprehend how it shall occur. This is where INX Limited - or INX - comes to the rescue. INX has proved to be a channel between traditional fiat and digital finance and cryptocurrencies to ease such an immense transformation, promising to transform the future of finance into reality.

Established in 2017, INX (inx.co) is a crypto trading powerhouse. The company is the holder of the blockchain-based platforms that practice the trading of digital securities and cryptocurrencies. The highly driven company aims to bring the regulated opportunity of digital assets to the interested brokers. INX also prides itself on designing INEX Token - the first SEC-registered digital security IPO, cleared by the US regulators, for both retail and institutional investors. INX plans to take further steps into the future by planning on providing international enterprises and companies an opportunity for futuristic and modernized trading as well as capital raising financial instruments. 

To quote Shay Datika, the owner and co-founder of INX, the acquisition of ILS "offers another building block and touchpoint linking traditional finance with the cryptocurrency and digital security space, offering a full range of traditional and digital brokerage services."

"We believe that cryptocurrency non-deliverable-forward (NDF) trading by global institutions will take the spotlight, especially given most institutions are looking for a way to trade cryptocurrency price volatility without the responsibility of actually holding the underlying assets. This acquisition puts us squarely in a position to provide markets in deliverable and non-deliverable currencies and cryptocurrencies to institutions in parallel with our digital securities and cryptocurrency trading platforms."

Envisioning such an exceptionally advanced future, INX declared last June its purchase of ILS Brokers Ltd (ILSB). 

ILS Brokers Ltd. is an Israel-based interdealer financier that was founded in the year 2001. This multi-national brokerage house with over 50 tier-1 and tier-2 global bank relationships centers on OTC trading of FX, interest rate, and other derivative products. ILS Brokers is not only filed as an introducing broker and swap firm, but is also an NFA member, and carries many other licenses in Israel.

By acquiring such a business service, INX strives to grow its global institutional reach while focusing on lead generation and reforming OTC trading. Furthermore, one of the many goals of INX is to implement a multilayered and accomplished regulatory platform that skillfully offers digital assets while simultaneously providing many other brokerage services along with it. 

Shay Datika, the owner and co-founder of INX, says the acquisition of ILS Brokers "offers another building block and touchpoint linking traditional finance with the cryptocurrency and digital security space, offering a full range of traditional and digital brokerage services."

"We believe that cryptocurrency non-deliverable-forward (NDF) trading by global institutions will take the spotlight, especially given most institutions are looking for a way to trade cryptocurrency price volatility without the responsibility of actually holding the underlying assets. This acquisition puts us squarely in a position to provide markets in deliverable and non-deliverable currencies and cryptocurrencies to institutions in parallel with our digital securities and cryptocurrency trading platforms."

INX has also previously proclaimed the closing of its procurement of many other platforms including Openfinance Securities, LLC which is a FINRA-regulated brokerage service aiming to provide an alternative digital assets trading system, in addition to another vital partnership with Japanese FX online trading platform, GMO Trust, to list the GYen, the first Yen-pegged stable coin launched with New York Department of Financial Services approval. 

INX envisions bridging the gap between traditional finance and digitalized blockchain-based finance. While the process of closing such a gap might not be so smooth sailing, Shay Datika is quite ambitious and optimistic nevertheless, acknowledging the need to teach banks this most advanced way of financing. 

Shay Datika says, "Our mission is to merge the new world into the old world. ILS will continue to generate transactions between banks, but not far away into the future, these transactions will be done not only with regular currencies such as Dollar, Shekel, and Euro but also with Bitcoin, Ethereum, and other cryptocurrencies and new asset classes of financial instruments and digital assets. This kind of synergy is possible now – after the acquisition, and INX is now ready to lead this revolution."

With more than 25 years of experience in the banking and finance industry, Shay Datika is the original founding member of INX Limited high 75% of his shares were later sold to Leader Capital Markets. While Datika is majorly famous for being the INX founder, the famous founder has also been vitally involved in many digitally financed innovations including the adoption of electronic trading in the global OTC foreign exchange (OTC Forex) market and a significant role in brokerage enterprise and online trading business to name a few.  One of the major milestones in the career of Datika is its involvement in Fin-Tech - a financial technology that provides financial services to companies. Darika has also invested and been appointed as an independent (external) director and Chairman of the Investment Committee and member of the Audit Committee of Altshuler Shaham provident funds and Pension Ltd. Before that, he was a senior dealer in Bank Hapoalim heading the G7 spot desk, with extensive knowledge in the areas of Fin-Tech and trading.

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