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Crypto exchange INX raised $ 85 million following an IPO

INX digital securities and cryptocurrency trading platform raised $ 85 million following the results of its registered with the US Securities and Exchange Commission IPO their Ethereum tokens.

More than 7,200 retail and institutional investors from 75 countries took part in the placement.

The company received 54% of funds in cryptocurrencies (Bitcoin, Ethereum, USDC) and 46% in US dollars.

Holders of tokens will be able to count on the distribution of 40% of net profit (without voting rights), holders of shares – the remaining 60% (with voting rights).

The IPO started in August 2020.

INX applied to list security tokens on the Canadian Stock Exchange in October. The volume of attracted funds can reach up to 39.6 million Canadian dollars (~ $ 32.3 million).

Together with early token sales, the total amount of funds received by the exchange can reach $ 125 million.

“With the completion of the IPO, we have the resources to shape the future of capital markets with new blockchain-based tools.”– said the CEO of the company Shai Datika.

Recall that in March 2021, INX announced its intention to be included in the list of traded assets of the Venture Firms Section of the Toronto Stock Exchange.

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Fidenge Pecold

My profession is a journalist, but my hobby for 8 years has been studying Forex investing and trading. During this time, I managed to gain extensive experience in investing and trading cryptocurrencies and double my capital in the Forex market. To be the author of this magazine, the site owners invited me to participate in one of the 2020 trading webinars, and I will try to reveal the most relevant crypto market news for you.

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