Gibraltar-based trading platform INX has estimated that around $ 125 million in token and stock offerings have been raised
INX Company, which operates the INX digital trading platform, announced earlier this week that it expects to raise a total of approximately $ 125 million from its stock and token offerings it has sold. Last month, the company confirmed that its trading platform will be officially launched for global trading upon completion of its IPO.
It also announced its intentions to list its token on more than one public trading platform by the end of this month. The token offering was made available through April 22nd at a token IPO price of $ 0.90. Security tokens are virtual currencies that are backed by assets such as equity. These tokens specify and identify rights to the asset in question. Because they are subject to federal regulations, U.S. companies dealing with them require approval from the Securities and Exchange Commission (SEC).
Shy Datika, the company’s CEO, said of the plans for the token offering: “INX has secured its position as the first company to conduct an SEC-registered IPO in digital security for both retail and institutional investors. We look forward to opening in the secondary market with equal success. “
On Monday, the blockchain-based global trading platform raised $ 85 million in proceeds from the initial public offering of Ethereum-based tokens. The company is reported to have another share offering in Canada that raised approximately $ 39.6 million (final figure to be confirmed upon approval by the Toronto Stock Exchange), which is $ 32.18 million at the current exchange rate.
The proceeds add up to a total of 117.18 million US dollars. However, this sum does not include the funds from the closed private token sale in the amount of USD 7.5 million. The funds total USD 124.68 million.
In a virtual interview with Reuters, Datika said: “We believe that more and more companies will go our way and issue security tokens, regulated tokens that are monitored by regulators. We have gone the SEC route and we will see more regular stocks move onto the blockchain. “
Although the blockchain-based trading platform is currently available, only the company’s investors, friends, and family have access to it. The public will be able to trade on the platform before the end of the month as forecast by the company. In addition to digital stocks and cryptocurrencies, the company stated that it would support fundraising lists for the virtual assets.