Crypto exchange INX raised $85 million following an IPO

by in Cryptocurrency News


INX, digital security and cryptocurrency trading platform, raised $ 85 million following an IPO of its Ethereum tokens registered by the US Securities and Exchange Commission.

More than 7,200 retail and institutional investors from 75 countries took part in the placement.

The company received 54% of funds in cryptocurrencies (Bitcoin, Ethereum, USDC) and 46% in US dollars.

Holders of tokens will be able to count on the distribution of 40% of net profit (without voting rights), shareholders - the remaining 60% (with voting rights).

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The IPO started in August 2020.

INX applied to list security tokens on the Canadian Stock Exchange in October. The volume of attracted funds can reach up to 39.6 million Canadian dollars (~$32.3 million).

Together with early token sales, the total amount of funds received by the exchange can reach $125 million.

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“With the completion of the IPO, we have the resources to shape the future of capital markets using new blockchain-based tools,” said CEO Shai Datika.