Blockchain trading platform INX completes $125M SEC-approved token IPO

Blockchain trading platform INX completes $125M SEC-approved token IPO

INX Limited has completed the first-ever Securities and Exchange Commission-approved token sale event via an initial public offering.

According to a release issued by the company, the blockchain trading platform raised $85 million in gross proceeds from over 7,200 investors — both retail and qualified institutional actors. Details from the announcement show that the average of investors who participated in the token IPO was 42.

As previously reported by Cointelegraph, the SEC-registered INX was looking to wrap up its token IPO before the end of April. The company had previously penciled the end of 2020 as its initial date to conclude the token IPO.

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Together with the $7.5 million from a previous private round and another 39.6 million Canadian dollars (about $32.2 million) in private placement equity on the Toronto Stock Exchange, the Gibraltar-based company has reportedly raised $125 million.

This sum is, however, subject to final confirmation from the TSX — for the placement equity round —  and is greater than

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