The ground-breaking collaboration creates a joint venture to develop blockchain-based Central Bank Digital Currency (CBDC) solutions that support monetary sovereignty.
NEW YORK, Dec. 20, 2022 /PRNewswire/ -- The INX Digital Company, Inc. (NEO: INXD), (INXATS: INX), (OTCQB: INXDF) ("INX"), a broker-dealer and inter-dealer broker - offering the first-ever SEC-regulated digital asset trading platform for both cryptocurrencies and security tokens, announced today that it has officially entered into a strategic partnership with SICPA, a global leader in authentication, revenue realization and secure traceability solutions, to help governments develop innovative and sovereign central bank digital currency ecosystems.
The joint venture, incorporated in Switzerland, combines both blockchain-based infrastructure and digital cash technologies to address the key requirements for Central Bank Digital Currencies, including privacy, security, financial inclusion, resilience and more - paving the way for the development and launch of a secure and scalable environment for all central banks to deploy digital currencies.
"With more than 80% of the world's central banks already considering launching a Central Bank Digital Currency, it's critical now more than ever to provide a viable path to capitalize on the wealth of opportunities digital currencies offer," said Itai Avneri, deputy CEO of INX. "We are excited to collaborate with SICPA and put our unique holistic solution for wholesale and retail CBDC to work as we strive together to pioneer the new digital economy around the world."
INX's team of CBDC and blockchain technologists will work with SICPA's digital team to establish solutions for CBDCs and the supporting ecosystems to assist clients in bolstering monetary sovereignty and efficiently growing the overall country GDP. The combined team will raise the bar in delivering innovative approaches to key requirements issued by central banks and their ecosystems, like compliance, scalability, cross-border transactions and programmability. Many of the complex and advanced security features developed by SICPA will find application in the development of the CBDC ecosystem.
"In any solution we offer to our customers and partners, we are committed to ensuring that it is efficient, inclusive, secure and enables trustworthy and privacy-compliant transactions" said Philippe Amon, CEO and Chairman of SICPA. "By collaborating with INX through this joint venture, we are ensuring that these cardinal virtues of cash will be equally true for the CBDC solutions that will complement the range of monetary solutions available to central banks."
A longstanding trusted partner and advisor to central banks around the world, SICPA has robust expertise in authentication, identification and security solutions, strong digital capabilities, and extensive knowledge of the physical cash ecosystem that allows for the development of new innovative forgery-proof security features to protect monetary sovereignty.
This partnership, signed Friday, Dec 16th, is a pre-planned step to launch the agreement stated in the MOU between the two parties, signed in June 2022.
For more information about INX and its INX.One platform for trading, issuing, minting, and instant settlement of security tokens and cryptocurrencies, visit https://www.inx.co/. For more about SICPA and its solutions for governments and central banks, visit https://www.sicpa.com/.
About INX:
INX provides a regulated trading platform for digital securities and cryptocurrencies. With the combination of traditional markets 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 innovative 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, combining traditional markets expertise and an innovative fintech approach. 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$83 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 SICPA:
Market leader in security inks and leading provider of secured authentication, identification, traceability and supply chain solutions, SICPA is a long-trusted partner to governments, central banks, high security printers and the industry. Every day, governments, companies and millions of citizens rely on its expertise, which combines material-based covert features and digital technologies, to protect the integrity and value of their currency, personal identity, value documents, e-government services, as well as products and brands. True to its purpose of enabling trust through constant innovation, SICPA aims to further an Economy of Trust worldwide, where transactions, interactions and products across the physical and digital worlds are based on protected, unforgeable and verifiable data.
Founded in Lausanne in 1927, headquartered in Switzerland and operating on five continents, SICPA employs about 3000 people. www.sicpa.com
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 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.
The NEO Exchange 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
Email: investorrelations@inx.co
For more information, contact:
Liz Whelan
liz@lwprconsulting.com
(312) 315-0160
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