INX Limited Raises $125 Million in SEC-Approved Token IPO

INX Limited, a blockchain-based cryptocurrency and security tokens trading platform, recently completed its Initial Public Offering (IPO) through a SEC-approved token sale. The company raised an estimated $85 million in gross proceeds from the sale, with over 7200 retail and institutional participants taking part.

Of the funds raised, over 50% were received in the form of crypto payments in Bitcoin (BTC), Ether (ETH), and USD Coin (USDC). However, all crypto payments were converted into US Dollars. The funds will be used for the launch and operation of a fully integrated cryptocurrency and digital securities trading platform.

INX Limited’s successful completion of the first SEC-registered token IPO is a significant milestone and opens the door for other legitimate crypto firms to raise capital through legal, regulated, and safe means. Shy Datika, INX Co-Founder and President, commented on the development saying, “This marks a major step forward for the industry.”