INX has been accepting cryptocurrencies like Bitcoin and Ether for its SEC-approved safety token IPO because September 2020.
According to a Monday statement , April 22 will be the final day of INX’s IPO since the company expects to get recorded its token on a minumum of one public trading platform at the end of May 2021. INX plans to launch the INX Digital trading system shortly after the IPO ends, ” the company said.
INX established the IPO at August 2020, intending to raise up to $117 million in a security token offering accepted by the United States Securities and Exchange Commission.
INX CEO Shy Datika reported that the company”has secured its position as the first to execute an SEC-registered electronic security IPO for both institutional and retail investors.”
INX did not define how much the firm has increased with its IPO up to now. The company did not immediately respond to Cointelegraph’s request for comment.
As previously reported by Cointelegraph, INX originally expected to complete the IPO by the end of 2020, using raised a total of $10 million as of late October.
Within its IPO, the company was accepting obligations in important cryptocurrencies, such as Bitcoin (BTC) and Ether (ETH), in addition to U.S. dollar-pegged stablecoin USD Coin (USDC). After INX introduced the crypto payment alternative at September 2020, Bitcoin and Ether were trading at around $10,500 and $380, respectively. Both cryptocurrencies have seen massive increase amid a major rally on crypto markets, more than 500% since September, trading at $58,577 and $2,099 at the time of writing, respectively.
INX is finishing its IPO as important U.S. cryptocurrency market Coinbase prepares to go public with a direct stock listing on the Nasdaq Global Select Market. The company expects to launch its Class A common stock trading under the ticker symbol”COIN” on April 14.