2021 has been an instrumental year and a real momentum for security tokens, with several ground-breaking deals. In May 2021, INX closed its STO, the first-ever approved by the SEC, raising around $85 million from over 7,200 investors. STOKR on the other side hosted some of the most successful STOs outside the US like Blockstream Mining Note (BMN) raised over $44M, Infinite Fleet raised over $5M. INX has already announced cooperation with Infinite Fleet in enabling their security tokens for the US market. INX with its recent acquisition of the Open Finance and Tokensoft Transfer Agent has already positioned itself as a leading security token exchange platform in the US.
Based on these remarkable achievements, the business agreement between STOKR and INX Group seeks to increase and cement a more robust cross-border security token offering. A recent report estimates that the market volume of security tokens in Europe will reach €918 billion by 2026. Furthermore, demand for security tokens in the primary issuance market and the OTC market is growing steadily. The two companies will collaborate on several initiatives to benefit from each other’s ecosystems and clients, enabling a wider reach for the security tokens issuers.
Arnab Naskar, Co-Founder and Business Lead of STOKR, explained: “INX team has been at the forefront of innovation in the US digital securities space. We believe that STOKR’s collaboration with INX will allow digital securities issuers to access both the EU and the US investment market in a regulated and standardised manner. Digital securities market is growing steadily over the last years and it is important that we create a collaborative environment to foster this innovative space.”
Douglas Borthwick, Chief Business Officer at INX, added: “STOKR has made headlines this year with their Blockstream Mining Token (BNM) and we have watched as they have grown and evolved. While INX and STOKR inhabit the same security token space, we each offer issuers different blockchains and regulatory compliance. We look forward to working closely with Arnab and his team as this space evolves. It is important that issuers understand all of the opportunities globally, and we feel this partnership opens up contingencies for all involved.”