INX Limited becomes the first SEC-cleared Security Token IPO

Gibraltar-based trading company INX Limited announced its successful registration of its Security Token IPO with the US Securities and Exchange Commission (SEC).

INX was established in 2017 and since then its goal was to drive the growth of regulated digital asset opportunities for institutions and retail investors. At the same time the company aims to develop its suite of INX Trading Solutions to enable single entry-point for their customers for the trading of cryptocurrencies, security tokens and their derivatives.

INX filed a F-1 form for security registration of non-US issuers wit SEC. The registration statement was approve by the SEC and is now in effect. According to the filling, the $117 million is set to be the largest crypto IPO in history, with 130 million INX tokens available at $0.90 each.

Gibraltar’s Minister for Digital and Financial Services, the Hon Albert Isola MP, commented:

Albert Isola MP, HM Government of Gibraltar

Albert Isola MP
Source: LinkedIn

The news that the Gibraltar-domiciled INX platform has become the first SEC-cleared security token IPO is a hugely important moment for INX, but also for our jurisdiction’s burgeoning ecosystem. Here in Gibraltar, we continue to break new ground with regard to blockchain and crypto innovation, and INX has contributed significantly to this collective effort. I would like to congratulate the INX team who have worked relentlessly to reach today’s milestone.

Shy Datika, Founder and President of INX added:

Our vision for INX and the INX Token required a solid foundation of regulatory clarity for security tokens and cryptocurrencies.  Gibraltar’s regulators were ahead of other jurisdictions on forging a path in this respect, and so INX was glad to make it our home.

Aaron Payas, Partner with Gibraltar based Hassans International Law Firm said:

It is a matter of some pride for Hassans, INX and for Gibraltar that the first security token offering approved by the SEC for distribution to the US public isn’t a US entity – it is a Gibraltar company, constituted and operating under the Laws of Gibraltar. This is an excellent development for the jurisdiction, the efforts of which in the DLT and wider fintech space are being validated by the successful filing of the INX security token – making a public offering of tokens in the US had long been the ambition of many projects in the industry, something that was thought by many to be impossible. We now know, as a firm, that it is not.

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