Fintech PR
INX Agrees to Extend Negotiating Period for Potential Acquisition Deal with Republic
Committed to its aligned vision and collaboration with Republic, INX has approved a three-month extension of the negotiating period towards an acquisition of INX by Republic
Additionally, INX and Republic renew the parties’ Collaboration Agreement by one additional year
TORONTO, Feb. 15, 2024 /PRNewswire/ — The INX Digital Company, Inc. (Cboe CA: INXD, INXATS: INX, OTCQB: INXDF) (“INX”), a U.S.-regulated broker-dealer, ATS, and transfer agent, and Republic (“Republic”), a global financial firm operating a digital merchant bank and a network of investment platforms, have announced a three-month extension, to May 15, 2024, of the period during which the parties have agreed to negotiate in good faith towards acquisition of INX by Republic, as previously disclosed on June 19, 2023 and November 8, 2023. The companies are also renewing their collaboration agreement for an additional year. The companies mutually agreed to the extension as Republic continues in the process of completing its capital raise round.
In recent months, the parties have expanded their collaboration across various domains, notably by integrating the Republic Wallet into the INX platform and successfully listing the Republic Note on INX’s secondary market. The collaboration also entails the development of an integration of Republic’s substantial user base into the INX platform, INX.One
Shy Datika, CEO of INX, stated, “We are continually paving new avenues to fulfill our vision of democratizing finance and providing a seamless bridge to the digital economy. Our collaboration with Republic aligns with our mission, and we are proud of the milestones we have already achieved together. We accept the extension request from our colleagues as we continue to work synergistically together.”
Kendrick Nguyen, CEO of Republic, emphasized, “Our collaboration has never been stronger, marking the dawn of a new era in finance and unlocking opportunities that will redefine global financial prospects. We are focused on expediting our capital raise round while concurrently reshaping the landscape for institutional and retail investors worldwide.”
Next week, the two companies will gather in INX’s Tel Aviv offices for a special AMA live broadcast. INX’s CEO, Shy Datika, VP Capital Markets, Bob Ejodame, Deputy CEO, Itai Avneri and Republic Crypto’s President, Andrew Durgee will share the latest updates and answer questions.
About INX:
INX provides regulated trading platforms for digital securities and cryptocurrencies. With the combination of traditional market expertise and a disruptive fintech approach, INX provides state-of-the-art solutions to modern financial problems. INX is led by an experienced and dedicated team of business, finance, and technology veterans with the shared vision of redefining the world of capital markets via blockchain technology and a disciplined regulatory approach.
About The INX Digital Company, Inc.: INX is the holding company for the INX Group, which includes regulated trading platforms for digital securities and cryptocurrencies. The INX Group’s vision is to be the preferred global regulated hub for digital assets on the blockchain. The INX Group’s overall mission is to bring communities together and empower them with financial innovation. Our journey started with our initial public token offering of the INX Token, in which we raised US$84 million. 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.
In addition to operating two regulated trading platforms for blockchain assets, INX’s interdealer broker, I.L.S. Brokers, plans to offer non-deliverable cryptocurrency forwards to Tier-1 banks in the future. For more information, please visit the INX Group website here.
About Republic:
Headquartered in New York City, Republic is a global financial firm operating an enterprise-focused digital merchant bank and a multi-jurisdictional retail-focused investment platforms network. Backed by Valor Equity Partners, Galaxy Interactive, Morgan Stanley, Hashed, AngelList, and other leading institutions, Republic boasts a portfolio of over 1500 companies and a community of nearly 3M members from over 100 countries. More than $2 billion has been deployed through investment platforms, funds, and firms within the Republic family of companies. Republic has established operations in the US, the UK, the UAE, South Korea, and Singapore.
Cautionary Note Regarding Forward-Looking Information and Other Disclosures
This press release contains statements that constitute “forward-looking information” (“forward-looking information”) within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking information and are based on expectations, estimates and projections as at the date of this news release. Any statement that discusses predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information. In disclosing the forward-looking information contained in this press release, INX has made certain assumptions, including with respect to, the continuous development of the INX trading platform, the completion of the transactions described herein, the offering of non-deliverable cryptocurrency forwards, and the development of the digital asset industry. Although INX believes that the expectations reflected in such forward-looking information are reasonable, it can give no assurance that the expectations of any forward-looking information will prove to be correct. Known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information. Such factors include but are not limited to regulatory developments, the state of the digital securities and cryptocurrencies markets, and general economic conditions. Accordingly, readers should not place undue reliance on the forward-looking information contained in this press release. Except as required by law, INX disclaims any intention and assumes no obligation to update or revise any forward-looking information to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking information, or otherwise.
Cboe Canada is not responsible for the adequacy or accuracy of this press release.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the U.S. Securities Act or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
For further information, contact:
The INX Digital Company, Inc.
Investor Relations
+1 855 657 2314
Contact: Alan Silbert
Email: [email protected]
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BEIJING, Nov. 28, 2024 /PRNewswire/ –A news report from China.org.cn on China’s Shenzhen:
In September, Huawei unveiled the world’s first tri-fold smartphone for commercial use. With reactions like “So cool!” and “Amazing technology!” flooding social media, unboxing videos and reviews of this new device went viral across platforms worldwide.
The common turf that has nurtured the impressive brands like Huawei,BYD, and Mindray, is China’s Shenzhen. As a testing ground for China’s reform and opening-up, this city continues to be a fertile field for high-quality brand names to date. But how has it done this?
Most importantly, from my standpoint, Shenzhen holds itself to a religiously high standard when it comes to quality. Cognizant that quality represents the foundation of any brand, the city has entrenched its “quality first” philosophy across economic, social, and environmental facets.
Additionally, Shenzhen has aligned itself keenly with global development trends. Jiang Qingyun, Fudan University Professor observes that China has a unique edge in green industries like new energy and new materials, and that future “Made in China” products will embody the philosophies of “low carbon, environmental sustainability, and green innovation.” Shenzhen has already begun moving in this direction. Electric vehicles, lithium batteries, and solar cells—the “new trio”—are gradually becoming staples in Shenzhen’s exports.
Lastly, Shenzhen’s open, inclusive, and innovation-driven environment has been instrumental. Since the early days of reform and opening-up, adaptability and breakthrough innovations have been woven into the fabric of the city. By refraining from over-regulation, welcoming new ideas and supporting R&D, Shenzhen has created an equal playing field that makes businesses sufficiently willing, daring and able to innovate.
In over 40 years, Shenzhen has transformed from a “small fishing village” to the “capital of Chinese brands,” now home to 11 Fortune Global 500 companies. These companies, along with many other brands home to Shenzhen, are witnesses and contributors to the shift from “Made in China” to “Innovated in China” and “Quality-Driven in China,” pushing Chinese industries up the global value chain.
These brands are the products of Shenzhen’s unique ecosystem, the fruits of innovation in the reform and opening up, and representatives of China’s new quality productive forces. They symbolize the high standards embedded in “Quality in China.”
Video – https://www.youtube.com/watch?v=Ac1XQm5G96A
View original content:https://www.prnewswire.co.uk/news-releases/shenzhen-brands-made-in-china-innovated-in-china-and-quality-driven-in-china-302318104.html
SHANGHAI, Nov. 28, 2024 /PRNewswire/ — A news report from russian.shanghai.gov.cn:
Shanghai presented its annual Magnolia Silver Award to 50 outstanding expats from 18 countries on Nov 23, recognizing their significant contributions to the city’s development and international exchanges.
The ceremony took place at the Grand Halls on the northern end of the Bund, with Kong Fu‘an, director-general of the Foreign Affairs Office of Shanghai Municipal People’s Government, conferring the medals and certificates to the recipients.
In his address, Kong emphasized Shanghai’s status as an international, innovative, and inclusive city that has taken the lead in achieving Chinese-style modernization. He highlighted the vital roles that expats, foreign-invested enterprises, and foreign institutions play in the city, noting that they have been “not only witnesses, but also active participants and contributors.”
This year’s award recipients come from diverse fields such as trade, finance, technology, shipping, healthcare, education, culture, sports, and agriculture. Among those honored was Pietro Brambilla from Italy, North Asia chief financial officer at L’Oreal China. Brambilla has spearheaded L’Oreal’s investment and development in Shanghai, helping the Chinese market become the company’s largest globally. He has also contributed to creating a market-oriented, law-based, and international business environment in the city.
Professor Marc Delpech from France, a representative of the awardees, shared his experiences contributing to Sino-French medical cooperation over three decades. As the coordinator of the French-language training program for medical students at Shanghai Jiao Tong University and currently vice-dean of the Sino-French School of Medicine at the university, Delpech emphasized the enduring and expanding friendship between China and France. He noted that his predecessor, Professor Guy Vincendon, received the Shanghai Magnolia Silver Award in 2003, highlighting the continuity and strength of their bilateral medical and educational relationship.
Another awardee, Carlo D’Andrea, chief representative of Studio Legale DAndrea, has helped many foreign companies settle in China, particularly in Shanghai. The Italian lawyer praised Shanghai as “the best location to do business in China“, especially in the fields of new technology and high tech. He highlighted Shanghai’s commitment to deepening reform and opening-up, which gives the city “a lot of potentials to be unleashed”.
D’Andrea valued the direct access to the city’s leadership, noting that each year, the Shanghai mayor meets with international business leaders to seek advice, feedback, and ideas for better development of the city. “I had the opportunity to meet many times with the mayor and the vice-mayor to discuss how we can attract more European investment into Shanghai,” he said. “I like this kind of opportunities where you have direct access to the leadership, because the exchange of ideas and exchange of opinion is the best way in order to have a better future together.”
Shanghai began awarding the Magnolia Silver Award to expats in 1989, later introducing the Magnolia Gold Award and Honorary Citizenship in 1992 and 1997, respectively. Over the past 35 years, 1,877 expats have received these honors, underscoring the city’s appreciation for their contributions.
View original content:https://www.prnewswire.co.uk/news-releases/shanghai-honors-50-expats-with-magnolia-silver-awards-302318026.html
HONG KONG, Nov. 27, 2024 /PRNewswire/ — Fintica AI Ltd, a leading innovator in next-generation AI solutions for capital markets, and Legend Arb Trading Limited, a Hong Kong-based proprietary trading firm with a global footprint across major financial hubs such as Shanghai, Taiwan, and Singapore, have announced a strategic investment and partnership.
Through this collaboration, Legend Arb has made a strategic investment in Fintica AI, strengthening the partnership between the two companies. This alliance will empower Legend Arb to advance its quantitative trading capabilities by harnessing Fintica AI’s unique unsupervised artificial intelligence technology. The partnership also aims to launch innovative new products and solutions. Simultaneously, Fintica AI will expand its business development efforts and market presence in Hong Kong and the Greater China region.
Kace Lam, Chief Executive Officer of Legend Arb, stated:
“Legend Arb is excited to collaborate with Fintica AI and its world-class AI technology team, known for pioneering advancements in quantitative modeling for financial markets. By combining Fintica AI’s deep academic and R&D expertise with our robust trading experience, we are poised to unlock significant value and drive innovation in quantitative trading strategies.”
Philippe Metoudi, Chief Executive Officer of Fintica AI, remarked:
“This partnership with Legend Arb represents a significant step forward in our mission to revolutionize the financial markets with advanced AI solutions. By joining forces, we can harness our respective strengths, explore the untapped potential of Hong Kong and Greater China’s financial sector, and deliver transformative innovations that shape the future of quantitative investment.”
About Fintica AI Ltd:
Fintica AI is a leading fintech company specializing in advanced AI solutions for capital markets. Its flagship platform, Spectrum MRI, delivers state-of-the-art tools for identifying market regimes across asset classes, including equities, fixed income, and commodities. By offering predictive analytics and robust risk-management capabilities, Fintica AI empowers investment managers, quantitative analysts, and strategic allocation teams with cutting-edge decision support tools. Headquartered in Tel Aviv, the company maintains a strong presence in major global financial hubs, driving innovation and excellence in the financial industry.
About Legend Arb Trading Limited:
Legend Arb is a Hong Kong-based proprietary trading company with a global presence in major financial centers like Shanghai, Taiwan, and Singapore. Specialized in pricing of Chinese-related products, equity index futures, and commodities futures, Legend Arb acts as a committed market maker to provide liquidity for HKEX and SGX.
For further information:
Visit www.fintica-ai.com
email [email protected].
View original content:https://www.prnewswire.co.uk/news-releases/fintica-ai-and-legend-arb-of-hong-kong-announce-strategic-investment-and-partnership-302317533.html
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