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INX Limited Raises $125 Million in SEC-Approved Token IPO

On Monday, May 3, blockchain-based cryptocurrency and security tokens trading platform INX Limited made an important announcement. The INX platform completed its first-ever SEC-approved token sale through an Initial Public Offering (IPO).

Calling it the first SEC-registered token IPO, INX announced an estimated fundraise of $85 million in gross proceeds from the token sales. Also, it announced that nearly 7200 retail and institutional players participated in this funding. However, these are not the only funds that the company has raised. When combined with the CA$39.6 million private placement before its planned listing on the Toronto Stock Exchange (TSX) INX Limited has raised over $125 million for the platform launch.

Of the total fundraise, crypto payments received in Bitcoin (BTC), Ether (ETH), and USD Coin (USDC) accounted for more than 50%. However, the company converted all its crypto payments received into US Dollars.

INX Limited will use these for the launch and functioning of a fully integrated cryptocurrency and digital securities trading platform. Moreover, being the first company to complete the SEC-registered IPO is a major milestone for INX. This also opens up the path for “legal, regulated and safe capital raising” for other legit crypto firms. Speaking of this development, Shy Datika, INX Co-Founder and President commented:

“We have built a state-of-the-art digital asset trading platform and a strong team of over 50 top talents that we plan to grow rapidly this year. With the successful completion of our IPO, we are well positioned to execute on our vision to shape the future of capital markets with new and exciting financial instruments – based on blockchain and digital assets. I want to thank our management, partners, community and advisors for making this vision and this journey possible.”

INX Limited said that it shall be further working with its 7,200-strong community of token holders. It said that the company has successfully managed to cater to investor participation across age groups and spectrum.

Retail and institutional investors across 75 countries purchased the INX Tokens. Besides, over 61,000 investors expressed interest in investing in INX.

“It was always our goal to find a way for investors across the income and age spectrum to have the opportunity to invest in early-stage companies, an opportunity that before INX, was largely reserved for accredited investors, private equity and venture capital companies,” noted the company.

INX Limited Raises $125 Million in SEC-Approved Token IPO

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