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MLB Team Washington Nationals Partners With Terra Blockchain Community, Ballpark Plans to Accept UST

On February 9, the American professional baseball team based in Washington, D.C., the Washington Nationals, announced the team has partnered with Terra, the open-source blockchain platform and decentralized autonomous organization (DAO). The Washington Nationals detail that the team is a “leading innovator” and is “consistently introducing new technologies to enhance the fan experience.” Washington Nationals Ink Long-Term Deal With Terra Major League Baseball (MLB) team the Washington Nationals has partnered with the blockchain platform and DAO Terra, according to an announcement published by the team on Wednesday. The deal with Terra follows a slew of sports-related deals with crypto firms, but the MLB team will be the first to partner with an open-source blockchain project. In addition to the partnership, the algorithmic stablecoin UST that’s issued on the Terra blockchain will be “accepted as a payment method at Nationals Park as early as next season.” “The Nationals continue t...
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INX’s acquisition of security token platform OpenFinance almost complete

INX has completed all the documents needed to complete its acquisition of security token platform OpenFinance, and is now awaiting regulatory approval.

Crypto IPO issuer INX has announced that its acquisition of security token offering platform OpenFinance is almost complete.

According to an email sent to OpenFinance users, the parties are now just awaiting regulatory approval to complete the change in ownership. INX — which is licensed by the U.S. Securities and Exchange Commission — expects its digital asset and securities trading platforms will be launched “in the next few months.”

The acquisition will see INX take on OpenFinance’s broker-dealer and alternative trading system, or ATS, business, including all licenses, digital asset listings, as well as its customer base. The move is expected to more than quadruple INX’s user base.

Shy Datika, INX’s president and founder, said that “the broker-dealer and ATS business enables investors to trade security tokens on the OpenFinance platform.”

“Now we expect to go live a few months after closing [the deal] with both our cryptocurrency trading platform and a fully-regulated securities trading platform.”

According to Security Token Group’s December 2020 report, Openfinance currently hosts pairings for five tokens representing a combined market cap of nearly $27.7 million, or roughly 7.4% of the total security token capitalization. However, monthly volume across the platform was just $6,660.

INX plans to build on the existing listings, announcing future support for the tokens of diamond market-maker Diamond Standard, Wave’s Kentucky Whiskey Fund, digital real estate platforms Klickown and Solidblock, and the in-game currency for Pixelmatic’s upcoming MMO strategy game.

In December, security tokens drove roughly $2.7 million in monthly volume. However, 95% of the activity took place on Overstock’s tZERO platform.

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