Crypto Exchange Startup INX Planning to Raise $130 Million in Landmark IPO
By Jamie Green - Cryptocurrency Investor
Crypto exchange startup, INX, is looking to raise over $129.5 million after generating the first sale of a security token that’s registered with the US Securities and Exchange Commission (SEC). INX hopes to provide services to institutions so they can buy and sell cryptocurrency for security tokens as stated by Yahoo Finance.
On Monday, the INX filed a draft F-1 with the SEC and is looking to market the tokens to institutional and retail investors through the Initial Public Offering (IPO). Soon, the public can buy cryptocurrency to invest in a security token in the US.
This is an incredible accomplishment because token sales have so far been unregistered. Some of the issuers marketed to wealthy investors to be excused from having to register and be slapped with notices. Many of them never even told regulators about what they had planned, which transpired into several cases against ICO teams for selling crypto classified as an unregistered security illegally.
With this move, the INX deal is being considered one of the biggest developed IPOs in the blockchain market. We can see more cryptocurrency companies entering this investment class as just last year, mining subscription company Agro, raised over $32.5 million dollars through an IPO using the London Stock Exchange. We could see more crypto companies looking to exchange Bitcoin and other currencies for an IPO as regulation evolves.
Besides that, the INX will be competing with several institutionally-engaged, trading platforms that are regulated and expected to be launching this year, even though the INX excels because of the digital assets that it plans to list. In spite of it being a security, users can buy crypto on the chain and use as a utility token on the INX Exchange to pay for exchange expenses.
Institutions can already sign up over on our platform to begin trading if you’re seeking to buy Bitcoin UK or any of the other crypto’s listed, so check it out!