The cryptocurrency trading platform INX intends to conduct an initial public offering (IPO) in the format of the sale of security tokens at the end of August. The fundraising goal is $ 117 million. The minimal amount invested is $ 1,000. The platform is going to sell 130 mln tokens at a price of 0.90 USD per share.
The company intends to use the raised assets for the further development of INXTrading Solutions – a SEC regulated exchange with support for cryptocurrencies, tokens, and derivatives. It has not yet launched its customer service.
The Gibraltar-incorporated company was established in 2017. A year later it announced that it is planning to launch an IPO. In 2019, the company filed a registration statement with the US SEC.
INX IPO will be the first SECregistered security token trading platform. The campaign is also highlighted by the fact that it takes place before the official launch of the product, while the IPO is usually organized by a functioning business with cash flow.