INX Digital Releases In-House Crypto App
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The INX Digital Company, a broker-dealer and owner of crypto trading platforms, announced on Monday the official launch of its crypto app on the Apple App Store and Google Play store.
According to the press release, with the INX crypto app, user data is encrypted using industry standards and is listed and traded with full regulatory compliance, fair trading policies, security protocols, and privacy procedures. "The INX Crypto trading app is about actions, not distractions. It was designed to allow straightforward trading of cryptocurrencies on any mobile device. We are gradually establishing more avenues for accessing crypto and digital securities. Our mission is to bring communities together and empower them through financial innovation. This app offers a regulated, secure, and easy-to-use method for trading crypto,” Shy Datika, INX CEO, commented.
The INX platform is fully regulated and the company is committed to adhering to all regulatory requirements. With the new user-friendly app, traders can purchase and sell a variety of digital assets, not just specific blockchains. The company is already working on setting up a platform where crypto and digital securities can be traded 24/7, 365 days a year, to provide investors with investment opportunities.
As the first company to issue an SEC-registered security token IPO on the blockchain, the company is rapidly preparing to help individuals, institutions, and issuers raise capital and trade responsibly.
Financial Results Q1 2022
INX Digital released its financial results for the first quarter ended 31 March 2022 recently. There were 17,674 new registrations in total, a sharp increase from the previous year.
Approximately $36 million were kept in the reserve fund. Cash and cash equivalents totaled $46.6 million in the reported period. The company shared that it achieved the targeted goals for the first quarter of 2022. Despite growth in some areas, the company experienced an adjusted net loss in the first quarter of 2022.
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