INX Announces First Blockchain Powered Dividend Distribution
Trucpal token holders will receive opening payout of dividend by using Ethereum Blockchain
NEW YORK and TORONTO, March 23, 2023 /CNW/ — INX Digital Company, Inc. (NEO: INXD, INXATS: INX, OTCQB: INXDF) (“INX”), a broker-dealer and inter-dealer broker, announced today that it will facilitate the first security token dividend distribution on its platform using of blockchain technology. HGC (BVI) Info Tech Ltd. (HGC), the issuer of Trucpal Tokens and a leading digital SaaS service provider serving the Chinese freight market, leverages INX’s SEC-registered Transfer Agent solution to distribute dividends on the blockchain in the form of USDC stablecoins.
“Trucpal’s first dividend distribution to investors is a full-circle moment for the INX team, implementing the company’s vision to enable the true democratization of finance,” said Itai Avneri, deputy managing director and COO of INX. “We have supported HGC throughout its journey, starting with its first capital raising for the Trucpal Token, the first security token offering on INX.One, and now the next evolution of the token’s lifecycle in the form of dividends.”
HGC’s dividend payment using INX’s blockchain-powered Transfer Agent is the first of its kind globally and represents the next evolution of digital asset investing. For issuers, HGC’s dividend payout with INX provides greater opportunities to cut operating costs, engage with investors at a deeper level and raise capital. For investors, it provides liquidity and an opportunity for further value creation that was not available until today.
“With the support of INX and Magic Circle, we are proud to issue the first dividend to Trucpal investors – more than 6 months ahead of schedule. More importantly will be the launch of the Trucpal Token, exclusively on INX.One, which will enable HGC for to share the long-term benefits of the SaaS ecosystem with investors, shareholders, management teams and users, rapidly scaling Trucpal’s business in a quantifiable flywheel effect,” said Wendong Zhang, founder of HGC. “With the realization of this dividend payment, especially through USDC, HGC has completed the implementation of the whole process from token issuance, business development, revenue acquisition to dividend payment to investors, which means the successful verification of the whole process integration with lNX .One platform. All this makes HGC safe on accelerating system expansion and development, and will also attract more users to join the ecosystem to share development and create long-term sustainable growth returns for all ecological stakeholders and investors.”
HGC continues to revolutionize China’s trucking industry with innovative, blockchain-based SaaS services and ownership economy. Specifically, the Trucpal application supports the rapidly growing demand for logistics solutions by enabling truckers to be more efficient while eliminating the industry’s most common obstacles.
The Trucpal token was offered pursuant to Reg D and Reg S exemptions in accordance with US securities regulations and is based on actual shipping transactions supported by HGC. Trucpal Token was first listed on the INX.One platform in July 2022and is exclusively available on the INX.One platform to US accredited investors and non-US investors.
“We look forward to working with our current issuer partners such as HGC, and many others to come, who are interested in tapping into the wealth of opportunities available by participating in the digital economy through fully regulated digital assets,” Avneri said.
INX’s mission is to increase access for US and international investors to the growing opportunities in the digital economy. The INX.One platform sets a global standard for effectively democratizing financial markets, while providing the necessary regulatory guardrails through close collaboration with US and global regulators.
In 2021, INX the first SEC-registered digital security IPO – ends with 84 million dollars in gross proceeds from over 7,250 private and institutional investors. 92.9 million INX tokens were sold in the IPO. INX continues to lead the industry in providing new financial instruments for trading and raising capital to businesses and corporations worldwide.
For more information on INX, visit https://www.inx.co/
About INX:
INX offers a regulated trading platform 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 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 market expertise and an innovative fintech approach. INX Group’s vision is to be the preferred global regulated hub for digital assets on the blockchain. 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 that we raised 84 million dollars. INX Group is shaping the blockchain asset industry through its willingness to work in a regulated environment with oversight from regulators such as the SEC and FINRA.
In addition to operating two regulated trading platforms for blockchain assets, INX’s interdealer broker, ILS Brokers, plans to offer non-deliverable cryptocurrency forwarding to Tier-1 banks in future. For more information, please visit the INX Group website here.
About HGC
HGC operates a blockchain-based shipping service SaaS platform i China. HGC thinks so China is the world’s most promising digital freight market. HGC maintains its strengths and position through continuous business innovation and an open system. The HGC/Trucpal team has developed and operated in shipping and crypto for many years. Since the official launch in 1 February 2021is the cumulative total transaction value in the Trucpal app 15165 million dollars. Over 19,6038,928 registered users and business entities have opted for the Trucpal service and 18,566.71 million Trucpoints have been allocated to users.
Warning regarding forward-looking information and other disclosures
This press release contains statements that constitute “forward-looking information” (“forward-looking information“) within the meaning of applicable Canadian securities laws. All statements, other than statements of historical fact, are forward-looking information and are based on expectations, estimates and projections as of the date of this press release. Any statement that discusses predictions, expectations, beliefs, plans, projections , targets, assumptions, future events or performance (often, but not always, using phrases such as “expects”, or “does not expect”, “expected”, “anticipates” or “does not anticipate”, “plans”, “budget” , “planned”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and expressions or that state that certain actions, events or results “may” or “could”, “would”, “may” or “will” be deemed to occur or be achieved) are not statements of historical fact and may be forward-looking information. In disclosing the forward-looking information in this press release, INX has made certain assumptions, including with respect to, th e continuous development of the INX trading platform, the offering of non-deliverable cryptocurrency going forward, 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 forward-looking information will prove to be correct. Known and unknown risks, uncertainties and other factors that may cause 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 market for digital securities and cryptocurrencies and general economic conditions. Accordingly, readers should not rely on the forward-looking information contained in this press release. Except as required by law, INX disclaims any intention and undertakes 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 which affects such future- looking for information or otherwise.
NEO Exchange is not responsible for the adequacy or accuracy of this press release.
This press 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 US Securities Act or any state securities laws and may not be offered or sold within the United States or to US persons unless registered under the US Securities Act and applicable state securities laws or an exemption from such registration is available.
For further information, contact:
INX Digital Company, Inc.
Investor Relations
+1 855 657 2314
Email: [email protected]
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SOURCE INX Digital Company, Inc.
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