Israel’s INX Launches US SEC Registered Security Token IPO

0
682

Israel’s INX has launched an SEC-registered security token IPO aiming to raise up to $117 million (AED430 million) from both retail and institutional investors. The company announced that it has already raised over $7.5 million (AED28 million) in its initial public offering, exceeding the minimum requirement for the offering. INX has also started accepting payments in Bitcoin (BTC), Ether (ETH) and USD Coin (USDC) at 10 am EDT.

INX aims to provide a regulated trading platform for digital securities and cryptocurrencies combining traditional markets expertise and a novel fintech approach. INX is led by an experienced team of business, finance, and blockchain technology experts unified by the vision of redefining the world of capital markets via blockchain technology and novel regulatory approach.

“For INX, uncharted territory represents immense opportunity to change the world for good, and there has been a lot of it going around lately. We recently became the first company to ever receive SEC clearance for a security token IPO, and on the heel of that move came normalization between my native Israel and the United Arab Emirates. Both countries share fertile ground for fintech, crypto and blockchain to take hold, and now with the U.S. nod of approval for digital assets, the finance world is in for a treat. An Israeli-led company with U.S. approval and UAE investors could form a triple treat set to finally get the financial revolution moving. We’re looking forward to being a part of this wonderful journey of formal business cooperation between Israel and the UAE, which will surely boost the industry forward lightyears,” stated the Executive Managing Director of INX, Alan Silbert.

INX has set the offering price at $0.90 per Token with a minimum investment of US$1,000. BTC/USD, ETH/USD and USDC/USD exchange rates will be determined in the manner as disclosed in the final prospectus. Further information regarding the token can be found at https://token.inx.co/.

“INX intends to use the net proceeds raised from the sale of INX Tokens for a launch of a regulated trading platform for digital assets including cryptocurrencies, security tokens, and their derivatives, for the establishment of a cash reserve fund, and for the continued development and operation of INX Trading Solutions,” added Silbert.

A registration statement relating to the offering of these securities was declared effective by the SEC on August 20, 2020. Copies of the registration statement can be accessed by visiting the SEC website at www.sec.gov. The offering is being made only by means of a prospectus. A final prospectus describing the terms of the offering has been filed with the SEC and forms a part of the effective registration statement.

Note: Cryptocurrency investments and participation in IPOs and similar financial investment activities are subject to market risk. Please read the offer document carefully and conduct due diligence before investing. For more information, please read our disclaimer.

Leave a reply