Crypto Exchange INX to Raise C$25M, List on TSVX for 'Added Credibility'
The exchange made history last year by conducting an initial public offering (IPO) on the Ethereum blockchain.
INX Limited, a cryptocurrency exchange that went public through a token offering on Ethereum in 2020, is looking to raise an additional CAD $25 million (USD $19.6 million) in a new listing on the TSX Venture Exchange.
- The company, which made history last year by conducting an initial public offering (IPO) on the Ethereum blockchain, said it intends to list on the TSXV for "added credibility."
- INX said the public reporting and transparency required by the TSVX listing will help it attract "Fortune 500 strategic partnerships and institutional investors."
- The plans were disclosed in a supplemental filing with the U.S. Securities and Exchange Commission on Feb. 25.
- According to the filing, INX will offer 20 million shares priced at $1.25 CAD. Proceeds will go to research and development, sales, marketing, general expenses and M&A.
- The exchange company, which acquired the alternative trading system OpenFinance last year, said its has a pre-money valuation of $225 million.
- The INX exchange will debut in Q2 2021, according to the filing.
See also: How to Watch INX’s IPO in Real Time on the Ethereum Blockchain
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Diversified RWA stablecoins sustain 5-7% yield from real credit as crypto funding compresses to ~4%. GENIUS pushes yield off-chain; TAM grows to $4B in 3 years.
Diversified RWA stablecoins sustain 5-7% yield from real credit as crypto funding compresses to ~4%. GENIUS pushes yield off-chain; TAM grows to $4B in 3 years.
Why it matters:
Diversified RWA stablecoins sustain 5-7% yield from real credit as crypto funding compresses to ~4%. GENIUS pushes yield off-chain; TAM grows to $4B in 3 years.
