SEC-registered crypto issuer INX to wrap up IPO in April

SEC-registered crypto issuer INX to wrap up IPO in April
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It has been announced that a Gibraltar company, INX Limited, is preparing to close its initial public offering by the end of April 22.

According to a Monday announcement, April 22 will be the last day of INX’s IPO as the company expects to have listed its token on at least one public trading platform by the end of May 2021. The INX CEO Shy Datika said that the company has “secured its position as one of the first to offer a digital security as an IPO for both retail and institutional investors.”

INX launched the IPO in August 2020, planning to raise up to $117 million in a security token offering approved by the United States Securities and Exchange Commission. 

Since September, both cryptocurrencies have seen growth of more than 500%, with the average exchange rate currently trading at $58,577 and $2,099 respectively.INX was completing its IPO as COINBASE prepares for a direct listing on the Nasdaq Global Select Market. As previously reported by the Cointelegraph, INX originally anticipated raising $10 million by the end of 2020. Within its IPO, the firm has been accepting payments in Bitcoin, Ether, and USD Coin. 

Bitcoin and Ether were trading around $10,500 and $380 in September 2020 when INX announced the cryptocurrency payment option. Since September, both cryptocurrencies have seen growth of more than 500%, with the average exchange rate currently trading at $58,577 and $2,099 respectively.INX was completing its IPO as Coinbase prepares for a direct listing on the Nasdaq Global Select Market.

As previously reported by Cointelegraph, INX originally expected to finish the IPO by the end of 2020, having raised a total of $10 million as of late October.

Within its IPO, the firm has been accepting payments in major cryptocurrencies, such as Bitcoin (BTC) and Ether (ETH), as well as U.S. dollar-pegged stablecoin USD Coin (USDC). INX Limited, a Gibraltar-based securities and crypto exchange, plans to wrap up its IPO on April 22 as the software platform expects to be listed on at least one public trading platform by the end of May 2021. Both cryptocurrencies have seen massive growth amid a major rally on crypto markets, up more than 500% since September, trading at $58,577 and $2,099 at the time of writing, respectively.

INX is finishing its IPO as major U.S. cryptocurrency exchange Coinbase prepares to go public with a direct stock listing on the Nasdaq Global Select Market. The firm expects to launch its Class A common stock trading under the ticker symbol “COIN” on April 14.

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