Trucpal Tokenholders Will Receive Inaugural Dividend Payout Using Ethereum Blockchain
NEW YORK and TORONTO, March 23, 2023 /PRNewswire/ — The 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 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, is leveraging INX’s SEC-registered Transfer Agent solution to distribute the dividends on the blockchain in the form of USDC stablecoins.
“Trucpal’s first dividend distribution to its investors is a full circle moment for the INX team, and implementation of the company’s vision to allow true democratization of finance,” said Itai Avneri, deputy CEO and COO of INX. “We have supported HGC through its entire journey, starting with its first capital raise for the Trucpal Token, the first security token offering on INX.One, and now the next evolution of the token’s life cycle in the form of a dividend.”
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 enables greater opportunities to cut operational costs, engage with investors on a deeper level and raise capital. For investors, it provides liquidity and an opportunity for additional wealth creation that wasn’t available before 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. Even more significant will be the launch of the Trucpal Token, exclusively on INX.One, which allows HGC to share the long-term benefits of the SaaS ecosystem with investors, shareholders, management team 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 entire process from token issuance, business development, revenue acquisition to dividend payment to investors, which means the successful verification of the entire process integration with the lNX.One platform. All this makes HGC confident to accelerate the system expansion and development, and will also attract more users to join the ecosystem to share the 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 fast 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 U.S. securities regulations and is based on actual freight transactions backed by HGC. Trucpal Token was first listed on the INX.One platform in July 2022, and is available exclusively on the INX.One platform to U.S. accredited investors and non-U.S. investors.
“We look forward to working with our current issuer partners like HGC, and many others to come, that are interested in leveraging the wealth of opportunities available by participating in the digital economy through fully-regulated digital assets,” Avneri stated.
INX’s mission is to increase access for U.S. and international investors to the growing opportunities in the digital economy. The INX.One platform sets a global standard for effectively achieving democratization in financial markets, while simultaneously providing the necessary regulatory guardrails through close collaboration with U.S. and global regulators.
In 2021, INX became the first SEC-registered digital security IPO – closing with $84 million in gross proceeds from over 7,250 retail and institutional investors. 92.9 million INX Tokens were sold in the IPO. INX continues to lead the industry in providing novel trading and capital raising financial instruments to enterprises and companies worldwide.
For more information about INX, visit https://www.inx.co/
INX provides a regulated trading platform for digital securities and cryptocurrencies.
With the combination of traditional markets 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 markets expertise and an innovative fintech approach. The INX Group’s vision is to be the preferred global regulated hub for digital assets on the blockchain. The 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 in which we raised US$84 million. The INX Group is shaping the blockchain asset industry through its willingness to work in a regulated environment with oversight from regulators like the SEC and FINRA.
In addition to operating two regulated trading platforms for blockchain assets, INX’s interdealer broker, I.L.S. Brokers, plans to offer non-deliverable cryptocurrency forwards to Tier-1 banks in the future. For more information, please visit the INX Group website here.
HGC operates a blockchain based freight service SaaS platform in China. HGC believes that 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 been developing and operating in the field of freight and crypto for many years. Since its official launch in February 1, 2021, the cumulative total transaction value within the Trucpal app is $ 15165 million. Over 19,6038,928 registered users and business entities have selected the Trucpal service and 18.566.71 million Trucpoints have been awarded to users.
Cautionary Note Regarding Forward-Looking Information and Other Disclosures
This press release contains statements that constitute “forward-looking information” (“forward-looking information“) within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking information and are based on expectations, estimates and projections as at the date of this news release. Any statement that discusses predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information. In disclosing the forward-looking information contained in this press release, INX has made certain assumptions, including with respect to, the continuous development of the INX trading platform, the offering of non-deliverable cryptocurrency forwards, 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 any forward-looking information will prove to be correct. Known and unknown risks, uncertainties, and other factors which may cause the 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 digital securities and cryptocurrencies markets, and general economic conditions. Accordingly, readers should not place undue reliance on the forward-looking information contained in this press release. Except as required by law, INX disclaims any intention and assumes 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 affecting such forward-looking information or otherwise.
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This news 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 U.S. Securities Act or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
For further information, contact:
The INX Digital Company, Inc.
+1 855 657 2314
SOURCE The INX Digital Company, Inc.