Luxembourg-based digital investment market place STOKR has announced a strategic partnership with INX Group in a bid to boost cross-border growth.
The agreement, which was announced at the Bitcoin Miami 2022, will enable the two firms to collaborate on initiatives benefiting their respective ecosystems and clients, enabling a wider reach for the security tokens issuers.
It follows an impressive year for STOKR, which raised more than $44M for security token offering (STO) Blockstream Mining Note, and more than $5M for Infinite Fleet.
INX, meanwhile, closed its security token offering (STO), the first-ever approved by US government agency the Securities and Exchange Commission, raising $85m from more than 7,200 investors. It also announced a cooperation with Infinite Fleet, enabling security tokens for the US market, and acquired Open Finance and Tokensoft Transfer Agent.
“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,” STOKR co-founder and business lead Arnab Naskar said, in a press statement, adding: “The 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.”
STOKR was founded in 2017, as a digital marketplace for investors to raise funds from innovative ventures. Digital securities offerings enable investors to directly fund startups and SMEs in return for a share of the comapnies’ future revenues or profits. Today, STOKR is headquartered at the Luxembourg House of Fintech and hosted in Berlin, Germany.
In March 2021, it signed a €3.9 million pre-series A funding with investors, enabling it to respond to the growing demand in digital investment.
INX Digital Company is the holding company for INX Group, which offers regulated trading platforms for digital securities and cryptocurrencies.
INX chief business officer Douglas Borthwick said: “While INX and STOKR inhabit the same security token space, we each offer issuers different blockchains and regulatory compliance.”