INX Digital Joins the Bidding Process for Voyager Assets

INX Digital Joins the Bidding Process for Voyager Assets

It seems that more and more crypto-related firms want to bid for Voyager Digital.

INX Digital, a crypto trading platform and broker-dealer established in 2017, has submitted a bid for bankrupt crypto exchange Voyager assets.

According to the press release shared on November 30th, the bid was sent in the form of a non-binding Letter of Intent

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In a nutshell, a Letter of Intent (LOI) is a short non-binding contract issued before the actual binding agreement. The non-binding part allows the interested party to walk away from the deal if terms can not be agreed upon.

With its bid, INX Digital aims to acquire Voyager as a firm regulated by the  Financial Industry Regulatory Authority (FINRA) and The Securities and Exchange Commission (SEC), as well as a cryptocurrency trading platform licensed in 43 states in the US.

In the press release, INX Digital's chief executive officer (CEO), Shy Datika, when talking about the bid, noted:

We believe that INX can offer the right combination of credibility, technology, and unique regulatory positioning to protect Voyager customers and creditor interests - giving them the stability they are looking for."

The company did not disclose the amount it was bidding for Voyager assets.

It is worth noting that INX Digital is not the only one in line to acquire Voyager and its crypto assets. In the middle of November, the news broke that crypto trading platform CrossTower is planning to bid for Voyager. 

The news was confirmed by a CrossTower spokesperson emphasized that the company is “working on a revised offer,” which would benefit Voyager customers and the crypto community.

Nevertheless, on November 17th, a person familiar with the matter revealed that Binance US is also planning to bid for Voyager.

The bidding for Voyager was reopened when on November 11th, its previous acquirer crypto exchange FTX filed for Chapter 11 bankruptcy. In September, FTX won the bid by offering $1.4 billion for Voyager and its assets.

Gile K. - Crypto Analyst

by Gile K. - Crypto Analyst, BitDegree


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