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.

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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


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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.
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