INX Limited’s Historic Token Sale
In a pioneering move for the crypto world, INX Limited has successfully completed the first Securities and Exchange Commission (SEC) approved token sale through an initial public offering (IPO). Buckle up, because this event has rocketed the company into the limelight, raising a staggering $85 million from over 7,200 enthusiastic investors — that’s more participants than most marathon races!
A Snapshot of Investor Demographics
The demographics are quite intriguing. The average age of the participants in this token IPO is 42, defying the stereotype that crypto investors are solely fresh-faced millennials. Who knew middle-aged investors could be so trendy?
Funding Breakdown
But wait, let’s peel back the layers a bit more. Adding to their cash flow, INX saw $7.5 million from a previous private funding round, plus about $32.2 million in Canadian private placement equity. When you crunch the numbers, that brings the grand total to a jaw-dropping $125 million! Just remember, this amount still awaits a final nod from the Toronto Stock Exchange (TSX), so fingers crossed!
Making Cryptocurrency Count
It gets juicier! Over half of the total amount raised came from cryptocurrency payments, predominantly Bitcoin (BTC), Ether (ETH), and USD Coin (USDC). INX ingeniously converted all that digital currency into U.S. dollars. Who knew being crypto-rich could also mean being cash-rich?
Future Plans for INX
So what’s in store for all that dough? According to their announcement, the funds will fuel the creation of a fully regulated crypto trading platform that promises to enable the issuance and sale of tokenized securities. Sounds like a game-changer for the industry, right?
Vision from the Co-Founder
Shy Datika, INX’s co-founder, is beaming with excitement over this breakthrough as he hopes that this token IPO will inspire other companies to follow in their footsteps for SEC-approved security tokens. In a chat with Cointelegraph, Datika revealed that there’s already a queue of about 30 companies itching to launch their security tokens on the INX platform. Talk about being a trendsetter!
