INX, a cryptocurrency exchange based in Gibraltar, has participated in the first cryptocurrency offering registered with the SEC. Focused on creating a regulated and certified crypto trading platform, they have raised over $7.5 million in their IPO, meeting the standard minimum set by the SEC. The IPO was visible on the Ethereum blockchain and gave an unprecedented public look at the IPO process in real-time.
This is a first-of-its-kind moment for tokenization which INX has spent a lot of time working to receive SEC approval. There were 200 million INX tokens minted and they utilize the ERC-1404 standard. The IPO is still limited to certain states, but due to the tokenization of the IPO process, the IPO is overall more open than previously possible. INX is hoping to raise over $100 million over the multi-week period that this IPO is taking place.
To watch for more breakthroughs and historic moments in Securities Tokenization, check out the Magic Number® Securities Tokenization Patent Forecast® for the latest patents in the space.
