INX, a Gibraltar-based cryptocurrency exchange, is now accepting major cryptocurrencies as part of its initial public offering, or IPO. The company hopes to raise $117 million from both retail and institutional investors.
According to the announcement, more than 3,000 retail and accredited investors registered for the INX token offering in the first 3 days. INX says that the company set the offering price $0.90 per token with a minimum investment of $1,000. BTC/USD, ETH/USD and USDC/USD exchange rates will be determined in the manner as disclosed in the final prospectus, the firm noted.
As previously reported, INX’s ongoing sale is the first-ever security token IPO that is registered with the United States Securities and Exchange Commission, or SEC. A registration statement relating to the offering of these securities was declared effective by the SEC on Aug. 20, 2020.
In the announcement, INX clarified that the offering is only available in California, Colorado, Connecticut, Georgia, Hawaii, Illinois, Louisiana, Michigan, Minnesota,