Blockchain trading platform INX completes $125M SEC-approved token IPO
May 4, 2021. Summarized by summa-bot.
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Blockchain trading company INX has completed its SEC-approved token IPO, raising a total of $125 million with plans to build a crypto and security token exchange service.
According to a release issued by the company, the blockchain trading platform raised $85 million in gross proceeds from over 7,200 investors — both retail and qualified institutional actors.
As previously reported by Cointelegraph, the SEC-registered INX was looking to wrap up its token IPO before the end of April.
The $125 million raised from the token IPO will be used to fund the creation of the company’s fully regulated trading platform for crypto and security tokens.
Speaking to Reuters, INX co-founder Shy Datika expressed enthusiasm that the company’s token IPO will pave the way for other companies to issue SEC-approved security tokens.
In a conversation with Cointelegraph, the INX co-founder confirmed that the company already hadabout 30 companies looking to launch security tokens on its platform.