Since September 2020, INX has been accepting cryptocurrencies such as Bitcoin and Ether for its SEC-approved encryption token IPO.
INX Limited, a Gibraltar-based exchange platform for shares and cryptocurrencies, is nearing the end of its initial public offering.
According to a Monday announcement, April 22 will be the last day of INX’s IPO as the company expects to have listed its token on at least one public trading platform by the end of May 2021. INX plans to launch the INX Digital trading platform shortly after the IPO ends, the firm said.
INX plans to collect up to $117 million in a security token offering authorised by the US Securities and Exchange Commission in August 2020.
According to INX CEO Shy Datika, the firm “has consolidated its spot as the first to conduct an SEC-registered digital security IPO for both retail and institutional investors.”
INX did not mention how much money the company has earned so far from its IPO.
According to Cointelegraph, INX initially planned to complete the IPO by the end of 2020, having raised a total of $10 million as of late October.
During its initial public offering, the company received deposits in big cryptocurrencies such as Bitcoin (BTC) and Ether (ETH), as well as the US dollar-pegged stablecoin USD Coin (USDC). Bitcoin and Ether were trading at about $10,500 and $380, respectively, when INX launched the crypto payment option in September 2020. Both cryptocurrencies have seen huge gains as part of a big rally in crypto markets, rising more than 500 percent since September and currently selling at $58,577 and $2,099, respectively, at the time of publishing.
INX is nearing the end of its IPO when Coinbase, a big US blockchain platform, plans to go public for a direct stock listing on the Nasdaq Global Select Market. On April 14, the company plans to begin trading its Class A common stock under the ticker symbol “COIN.”
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