INX Limited (INX), the owner of blockchain-based platforms for trading digital securities and cryptocurrencies, is to list the INX Token, which was previously offered in the world’s first public offering of a digital security registered with the US Securities and Exchange Commission (SEC), on the INX Securities trading platform at securities.inx.co on 28 July at 9:00am EDT.
In addition, INX is reducing the trading fees on the INX Securities platform to only 0.2 per cent for all digital securities listed on the platform, down from 2.5 per cent.
INX’s vision is to be the preferred global regulated hub for digital assets on the blockchain, offering technology and related services for both primary and secondary markets. INX’s overall mission is to bring communities together and empower them with financial innovation. INX’s journey started with its initial public offering of the INX Token and continues with the development of regulated trading platforms for blockchain assets. INX is shaping the blockchain asset industry through its willingness to work in a regulated environment with oversight from regulators like the SEC and FINRA.
Co-founder and CEO, Shy Datika, says: “This listing of our registered digital security, trading on the blockchain, makes history. Blockchain securities are the future, and INX is leading the way. In my opinion, digital security trading fees have been at ridiculously lofty levels in this space. For digital securities to gain true acceptance, they have to be accessible to all, with low fees.”
In April, INX closed its IPO with USD83.6 million in gross proceeds from over 7,300 retail and institutional investors. Some 92.9 million INX Tokens were sold in the IPO at a price of USD0.90. It took INX over 950 days to bring the INX Token to market. It was then sold in a registered public offering and now finally opens for trading on its platform.
Since closing the IPO, the company has opened its cryptocurrency trading platform to the public and finalised its acquisition of Openfinance Securities, LLC (which has changed its name to INX Securities, LLC). It also purchased ILS Brokers, an interdealer broker, with USD5 billion in monthly volume, to expand INX’s global institutional reach while focusing on lead generation, OTC trading, and the development of Bitcoin and Ethereum Non-Deliverable Forward contracts. In addition, the coming listing of the Japanese financial giant GMO Trust’s regulated Japanese Yen stable coin (GYEN) on the cryptocurrency trading platform further expands INX’s position in the growing blockchain ecosystem.