INX and SICPA Announce the Formation of Nabatech: A Joint Venture for Sovereign states Digital Currency Ecosystem
NEW YORK , Sept. 11, 2023 /PRNewswire/ -- The INX Digital Company, Inc. (NEO: INXD, INXATS: INX, OTCQB: INXDF) ("INX"), a US-regulated broker-dealer, ATS, and transfer agent, announced today the official launch of Nabatech, the joint venture created in partnership with SICPA, a pre-eminent global figure in authentication and secure traceability solutions. Nabatech is a direct result of INX and SICPA's collaboration to aid governments and central banks worldwide in constructing pioneering sovereign digital assets ecosystems.
The Swiss-incorporated joint venture uniquely combines Decentralized Ledger Technology (DLT) infrastructure and digital identity technologies to fulfill critical Central Bank Digital Currency (CBDC) requirements - from security and privacy to resilience and financial inclusion. This initiative is set to propel the establishment and launch of a secure and scalable framework for central banks to execute digital strategies.
"As we witness over 80% of the globe's central banks contemplating the introduction of Central Bank Digital Currencies, the urgency to deliver a concrete strategy to tap into the immense potential of digital currencies is palpable," commented Itai Avneri, Deputy CEO & COO of INX. "Collaborating with SICPA empowers us to deploy our comprehensive solution for wholesale and retail CBDC. Together, we are poised to champion the evolution of the global digital economy."
In this endeavor, INX's specialized CBDC and blockchain technologists will join forces with SICPA's digital team to create robust CBDC solutions and supporting ecosystems to fortify monetary sovereignty and amplify national GDPs.
By intertwining their strengths, both entities anticipate setting new industry benchmarks in catering to central bank mandates concerning privacy, oversight, scalability, inclusion, and programmability.
Phillipe Amon, CEO and Chairman of SICPA, expressed, "Our commitment to every solution we present is grounded in ensuring efficiency, inclusivity, security, and fostering genuine and privacy-preserving transactions. By joining forces with INX in this venture, we remain steadfast in upholding these core principles for the CBDC solutions, enriching the spectrum of monetary tools accessible 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.
INX has established itself as a pioneer in the tokenization of a diverse array of assets. INX is redefining the way today's companies and investors are interacting with, and investing in, the digital economy, by offering the leading, fully-regulated trading platform for digital assets like security tokens, tokenized shares, cryptocurrencies and more.
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.
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: [email protected]
SOURCE The INX Digital Company, Inc.
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