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In a press release, INX announced that it had reached the minimum mark of $ 7.5 million. It now accepts multiple cryptocurrencies for payment
Within three days of the start of the Initial Public Offering (IPO) for their INX token on August 25, INX Limited has the sum of 7.5 million US dollarscollected. As part of the IPO, the exchange now also accepts Immediate Edge, Ether (ETH) and USD Coin (USDC) as payment methods.
The IPO for the security token was one of the first of its kind to be approved by the US Securites and Exchange Commission (SEC). In 2017, the majority of ICOs – the crypto equivalents to IPOs – took place without official supervision. Since the SEC subsequently classified many of the tokens issued as securities, these projects now have to answer for the sale of unregistered securities.
IPO: Accessible INX Token Offering
In total, INX plans to raise US $ 117 million. This sum would be one of the largest that a crypto company has ever raised through such a project. The company would use the money to create a trading platform for digital values, i.e. for cryptocurrencies, digital securities and their derivatives. A fund with liquidity reserves is also being considered.
In the long term, the company would like to expand its trading platform: The start-up founded in 2017 only has 14 employees. In addition, it can boast no other products besides the actually noteworthy IPO. The company had been preparing these for over two years.
It carried out the IPO in August together with Tokensoft. Tokensoft helps investors, among other things, with the management of their investments and checks legal compliance. The INX token, based on the Ethereum blockchain, is available in 14 US states, including Hawaii, Louisiana and Wyoming.
A Chinese company only went public in an IPO in the spring . Ebang International Holdings manufactures equipment for Bitcoin mining. Ant Financial, a subsidiary of Alibaba, is also planning an IPO , which is likely to shake the digital financial market.
Posted in Bitcoin