6 November 2024, Wed |
4:07 AM
Israel’s INX has launched the first-ever SEC-registered security token IPO aiming to raise up to US$117 million (AED430 million) from both retail and institutional investors. The company announced that it has already raised over US$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 10am 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 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,” stated the Executive Managing Director of INX, Mr. Alan Silbert.
INX has set the offering price at US$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. Information regarding the token can be found at https://token.inx.co/.
