Gibraltar-based INX Limited Becomes the First SEC-cleared Security Token IPO

The cryptocurrency and security token exchange is set to make history with the largest crypto IPO to date.

The Gibraltar Government has welcomed the news that Gibraltar-domiciled company INX has become the first security token IPO cleared by the U.S. Securities and Exchange Commission (SEC).

Established in 2017, INX’s mission is to accelerate the proliferation of regulated digital asset opportunities to institutions, as well as retail investors, while developing its suite of bespoke INX Trading Solutions to enable single entry-point for their customers for the trading of cryptocurrencies, security tokens, and their derivatives.

The INX team comprises a number of professionals from the regulated trading, capital markets, and blockchain spheres.

Having filed an F-1 Form – a securities registration for non-U.S. issuers – with the Securities and Exchange Commission (SEC), under the SEC filing code INX F-1, a registration statement relating to these securities has now become effective. Based on the filing, the $117 million is set to be the largest crypto IPO in history, with 130 million INX tokens available at $0.90 each.

Minister for Digital and Financial Services, Albert Isola, said: “The news that the Gibraltar-domiciled INX platform has become the first SEC-cleared security token IPO is a hugely important moment for INX, but also for our jurisdiction’s burgeoning ecosystem. “Here in Gibraltar, we continue to break new ground with regard to blockchain and crypto innovation, and INX has contributed significantly to this collective effort. I would like to congratulate the INX team who have worked relentlessly to reach today’s milestone.”

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28-08-2020 PANORAMAdailyGIBRALTAR