Broker-dealer and crypto trading platform INX Digital has entered the bidding contest for the assets of bankrupt cryptocurrency lender Voyager Digital, announcing a nonbinding letter of intent Wednesday.
Voyager's July bankruptcy filing in the U.S. Southern District Court of New York was quickly followed by a bidding war for its assets. FTX won that battle, but the bidding reopened following that exchange's own bankruptcy two weeks ago.
INX unveiled its INX One platform in September, intended to allow trading of cryptocurrencies as well as security tokens that are registered with the U.S. Securities and Exchange Commission.
Last year, INX became the first company to complete a security token offering registered with the SEC. The offering raised $85 million from more than 7,000 investors.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.