Security Token, Crypto Exchange INX To Launch $130M IPO In April While Seeking BitLicense

2020-3-7 20:13

The cryptocurrency and security token exchange company INX Ltd. wants to launch in April an $130 million initial public offering (IPO).

The IPO will be the largest securities sale registered by a blockchain-based company. The launch will include presentations to potential investors. The presentations were initially expected to begin in January, but INX hired an investment bank from Europe to be its IPO’s lead underwriter.

Relocation to New York and Obtaining a BitLicense

In order to double down on compliance, INX plans to move from Gibraltar, a country with a friendly blockchain jurisdiction, to New York. This means it will need a BitLicense from the state of New York. People who know more about the situation said INX is already in discussions with the New York Department of Financial Services (NYDFS) to get this license. Calling the requirements for the license onerous, ShapeShift and Kraken stopped their New York activity, but INX is determined to get it, especially since the NYDFS recently started to reassess its requirements.

IPO Proceeds to Fund INX Digital Crypto Exchange and INX Securities

The IPO’s proceeds will fund the INX Digital crypto exchange and the INX Securities security token platform. Among INX’s partners, BitGo and Anchorage will custody the digital assets for the exchange during preparations. BitGo was mentioned by INX in an SEC filing, whereas Anchorage already confirmed that it’s involved.

Tokensoft will provide advisory and technical services, while Quantstamp will be the one auditing the smart contract code, says the same SEC filing. The token released by INX will be listed on both on the INX security token platform and other exchanges. Those who hold INX tokens will get a share from the profits made by the company and be ahead of equity investors in case of repayment as a result of bankruptcy. The tokens will work as trading fees payment too.

INX Has Money Transmitted Licenses in 8 US States

Meanwhile, INX managed to obtain money transmitter licenses from 8 states in the US, which means it will take care of crypto-to-crypto and fiat on-ramp transactions. The top 10 coins will be listed by the exchange according to market capitalization, whereas new derivatives and coins are sure to be added later.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Waves Community Token (WCT) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 1.05 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Цена в час новости $ 0.0610115 (-100%)

ipo security company launch april token inx

ipo security → Результатов: 20


Swiss-Based Overture To Become First Authorized IPO On Ethereum Blockchain

As firm in Switzerland, is now permitted to integrate a blockchain IPO that offers tokenized shares. In an announcement made Wednesday, Andriotto Financial Services says that Overture, the firm for which it offers financial advice, is going to provide something different than what other security offerings do: “The company has approved the first Swiss articles […]

2020-1-29 20:14


Open API Cryptocurrency Exchanges Launches IPFS Protocol to Facilitate Security Token Trading

A developer of decentralized ERC-20 token exchange powered by P2P hypermedia protocol from Protocol labs launches private IT-backed security token. To remove the challenges linked to traditional IPO investing, the security trading platform BaseCore leverages its very own security token: BaseCore token; a stable coin backed by the underlying portfolios of private IT companies.

2018-11-1 11:00


Фото:

Crypto Trading Platform Robinhood Considering Launching its IPO

Stock and cryptocurrency trading platform Robinhood is planning to launch an Initial Public Offering (IPO), for which the company is looking for a chief financial officer (CFO). Speaking at TechCrunch Disrupt San Francisco on September 6, 2018, CEO Baiju Bhatt stated that the startup is actively seeking a CFO, and is undergoing a spate of audits from the U.

2018-9-11 13:00