May 11, 2024

Media reported when the largest IPO in the bitcoin industry will take place

The INX cryptocurrency exchange will hold an IPO for $130 million this April, CoinDesk reports, citing people familiar with the matter.sources.

The updated prospectus says that INX will move its headquarters from Gibraltar to New York, where it will apply for BitLicense.

The company has already obtained a money transfer operator license in eight states.

INX claimed token sale with the Commission on ValuableUS Securities and Exchange Commission (SEC) for two years. After receiving approval, the exchange entered into agreements with the Anchorage and BitGo custodians, owned by Alan Silbert (brother of Barry Silbert, CEO of Digital Currency Group), the newspaper writes.

The audit of the exchange code is supposedly conducted by QuantStamp, and Tokensoft will act as the technical services provider.

INX intends to launch two platforms - for trading cryptocurrencies and security tokens. The first listing will presumably include the 10 most capitalized cryptocurrencies.

The token of INX itself will be placed on the security platform. Its holders will receive the right to share profits. If a company goes bankrupt, they will also be the first to receive payments.

Recall that the cryptocurrency startup Blockstack is considering an IPO. Its STX tokens are also recognized as US securities.