INX, a Gibraltar-based crypto exchange, accepts major cryptocurrencies as part of its IPO. The company expects to raise $ 117 million from retail and institutional investors.
According to an announcement made on September 10th The company accepts payments in Bitcoin (BTC)., Ether (ETH) and USD coin (USDC) As of September 14th. Since going public INX raised $ 7.5 million on September 10.
According to the announcement, In the first three days, over 3,000 private and accredited investors registered for the INX token offer. According to INX, the company has set the offer price for $ 0.90 per token with a minimum investment of $ 1,000. The exchange rates BTC / USD, ETH / USD and USDC / USD will be set as stated in the final report, the company said.
As previously reported, The ongoing sale of INX marks the first public offering of security tokens registered with the U.S. Securities and Exchange Commission (SEC). The SEC has issued a registration notice regarding the offering of these securities effective August 20, 2020.
In the advertising, 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 company, INX intends to use the funds raised from the INX token sale to launch a multi-service platform for digital assets. Such as, INX plans to set up a regulated trading platform for cryptocurrencies, Security tokens and their derivatives as well as the establishment of a cash reserve fund.
End of August, Some figures in the crypto community specifically criticized INX for buying a token authorized by the SEC. As reported Stefan Jespers, known as WhalePanda On Twitter, he compared the INX token with Binance’s native coin, the Binance Coin (BNB). Jameson lopThe CTO of ‘Casa’ and a self-proclaimed cypherpunk shared a similar stance: “It’s not a stock offering. It’s not your mother’s ICO. A guaranteed portion of the cash flow“.