INX, a Gibraltar-based cryptocurrency exchange, has announced the launch of its initial public offering (IPO) of up to 130 million INX Security Tokens.
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According to an official press release, the company has set the offering price at $0.90 per token with a minimum investment size of $1,000. It is expected the IPO will begin on August 24, 2020.
INX plans to use the funds raised from the sale to continue development and operation of INX Trading Solutions and to establish a cash reserve fund.
According to documents filed with the US Securities and Exchange Commission (SEC), INX tokens are a hybrid solution — both utility and security tokens.
Holders will be able to use them to pay trading commissions on the platform and as stocks.
INX Limited, a Gibraltar-based private company formed in 2017, is developing INX Trading Solutions, a single entry-point for our customers for the trading of cryptocurrencies, security tokens, and their derivatives.
Previously, iHodl reported that a vacation rental giant Airbnb Inc. is also planning to go public as it has quietly submitted a draft registration to the SEC.
While the application does not indicate the number of shares nor their price range, Airbnb says it plans to hold an IPO once the SEC completes reviewing the documents for market and other conditions.
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