INX Accepts Major Cryptocurrencies As Part Of Its Initial Public Offering
INX Accepts Major Cryptocurrencies As Part Of Its Initial Public Offering
September 15, 2020
INX Accepts Major Cryptocurrencies As Part Of Its Initial Public Offering
INX Accepts Major Cryptocurrencies As Part Of Its Initial Public Offering
September 15, 2020

INX, a Gibraltar-based cryptocurrency exchange, is now accepting major cryptocurrencies as part of its initial public offering, as the company hopes to raise $117 million from both retail and institutional investors.

It has been reported that from today, the company has planned to accept payments in Bitcoin (BTC), Ether (ETH), and USD Coin (USDC). 

However, the firm’s representatives said that INX raised $7.5 million by September 10 since launching the IPO.

According to the report, more than 3,000 retail and accredited investors registered for the INX token offering in the first three days.

INX said that the company set the offering price at $0.90 per token, with a minimum investment of $1,000. BTC/USD, ETH/USD and USDC/USD exchange rates will be determined in the manner as disclosed in the final prospectus.

ALSO READ :  Malta’s Finance Minister Reveals Its Plan To Become A “Blockchain Island”

As previously reported, INX’s ongoing sale is the first-ever security token IPO that is registered with the United States Securities and Exchange Commission. A registration statement relating to the offering of these securities was declared effective by the SEC on August 20.

Likewise, INX clarified that the offering is only available in California, Colorado, Connecticut, Georgia, Hawaii, Illinois, Louisiana, Michigan, Minnesota, New York, Texas, Washington, Wisconsin, and Wyoming.

According to the firm, INX intends to use the funds raised from the sale of INX tokens to launch a multiservice digital asset platform.

Thus, INX plans to set up a regulated crypto trading platform for crypto, security tokens, and their derivatives, as well as to launch a cash reserve fund.

Source: Cointelegraph | Image: Cryptooof


Crypto News Point a news platform of Digital Notice Media Labs is primarily a regular publication of information, commentary and articles focused extensively on fintech, blockchain technology, cryptocurrency, blockchain-based tokens, cryptocurrency market trends, and trading strategies. We do not provide individually tailored investment advice and does not take a subscriber’s or anyone’s circumstances into consideration when discussing investments, nor is Crypto News Point registered as an investment adviser or broker-dealer in any jurisdiction. Information contained herein is not an offer or solicitation to buy, hold, or sell any digital assets.

Affiliate Disclosure: To help support the work we do here at CNP, we often link to products and deals from around the web. Should you buy some of these, we may get a portion of the sale.

We in generally gather content from the major websites. In every article there is always a clear link and attribution to the source publication. If you have any issue with any of our published content taken from your site, kindly let us know so that we can take appropriate action. In any case, the content of the pages of this website is for your general information and use only. It is subject to change without notice.

You May Also like

Ishita Bora

Ishita Bora is a Senior Content Creator at Digital Notice Media Labs with an experience of 1 year. She has completed her Master's Degree in Language and Linguistics in 2019 from Gauhati University, India. Her interest lies in blockchain technology and cryptocurrency space, as she loves writing about blockchain and other blockchain-related articles. Currently, she is working on blockchain-based news, reviews, featured articles, and guides.