INX Limited announces timetable for listing of world’s first SEC-registered security token
INX Limited, the Gibraltar-based company that owns blockchain-based trading platforms for digital securities and cryptocurrencies, has announced that its INX token will be listed in July.
The INX token would be SEC-registered digital security and would be listed on the Openfinance Securities ATS which is their digital securities trading platform.
The token was scheduled to be listed earlier but the listing data has been pushed to July to bring in more customers, liquidity and also to upgrade the platform for the additional volume that is expected.
Shy Datika, President of INX, commented, “We are excited to list as soon as possible. We have a team diligently working to enhance the technology and onboarding experience to meet strong customer demand. We very much appreciate the community’s enthusiasm and patience.”
“This extended timeframe will additionally allow us to onboard more customers to the platform, which we believe will be a welcome outcome for all users of the platform.”
It may be remembered that the company has raised more than $100 million in its security token and equity offering in May. It was the first security token IPO approved by the SEC and both retail and institutional traders and investors participated in this round. Security tokens, unlike the normal tokens, are backed by a tradable asset like real estate or equity and it is tightly regulated as well which gives it a lot of trustworthiness.
Though this was the first such IPO for security tokens, many companies are expected to take this lead and push for such tokens and IPOs as these are the ones that are likely to be recognized by the regulators and hence would withstand any kind of scrutiny. In due course of time, these are the ones that are likely to be preferred by large investors in the US as they have the safety of investing in a regulated digital asset.
The trading platform is already up and running for its investors, friends, and family and the company hopes to add more to its customer base by the time of the listing of the INX token. The company plans to list other security tokens and cryptocurrency on its platform and this is likely to boost the users and the trading volumes in the coming months.
