It has been reported that in a move to boost the liquidity in its $117 million IPO, INX has applied with the Canadian Securities Exchange to list its security token, as the listing application is subject to the approval of the CSE.
However, according to INX’s representatives, the company expects to list the INX token on many other global exchanges, but the CSE will be the first.
A spokesperson for INX said:
“This will provide dramatically higher access to capital and liquidity on a global scale, impacting the legacy equity way of the stock exchanges of the world.”
Likewise, Richard Carleton, the CEO of CSE, said that the exchange is working hard to list new solutions that “cater to a rapidly changing and increasingly digitized capital markets environment.”
“Digital securities represent a logical evolution in how investment instruments are constructed, issued, and traded on a regulated marketplace.”
Moreover, INX is now in the midst of its IPO that is the first of its kind ever approved by the United States’ Securities and Exchange Commission.
A spokesperson for INX said that the firm is also the first to receive SEC approval to offer its token to both institutional and retail investors.
The representative stated that INX is offered to global investors subject to each location’s regulation.
As INX expects to finish its IPO by the end of 2020, the $117 million targets could prove a challenge for the firm. After launching the IPO in late August 2020, INX raised “more than $10 million” as of October 27.
Shy Datika, the Co-founder and President of INX, said that INX has an “understanding with a few institutional investors for tens of millions more.”
Thus, INX has been accepting major cryptocurrencies like Bitcoin (BTC) and Ether (ETH) for its IPO since September 10.