INX President Shai Datika said in a comment from Reuters that OpenFinance is valued at between $40 million and $70 million. According to him, such deals in a rapidly growing market is the best way to move forward.
In addition to the client base and license, INX will receive an alternative trading system for exchanging security-takers, the launch of which was announced by OpenFinance in 2018. Other terms and conditions of the transaction will not be disclosed.
The founder of INX is Alan Silbert, brother of CEO Grayscale Investments Barry Silbert. The project’s advisors are Chiffrobank and technical director of Casa start-up Jameson Lopp, as well as Blockstream’s Bitcoin Maximumist and strategic director Samson Mow.
During the IPO, the crypt exchange plans to sell 130 million tokens at a price of $0.90.