INX to boost its $117M IPO with token listings on global exchanges

Raising $10 million out of $117 million to date, INX expects to finish the IPO by year's end.

INX, a global digital asset trading platform, is expanding its ongoing initial public offering with listings on exchanges worldwide.

In a move to boost the liquidity in its $117 million IPO, INX has applied with the Canadian Securities Exchange to list its security token.

The listing application is subject to the approval of the CSE, according to an Oct. 30 announcement from INX. According to INX's representatives, the company expects to list the INX token on many other global exchanges, while the CSE is the first expected.

"This will provide dramatically higher access to capital and liquidity on a global scale, impacting the legacy equity way of the stock exchanges of the world," a spokesperson for INX said.

INX is now in the midst of its IPO that is supposed to be the first of its kind ever approved by the United States' Securities and Exchange Commission.

As INX expects to finish its IPO by the end of 2020, the $117 million target could prove a challenge for the firm.

After launching the IPO in late August 2020, INX raised "More than $10 million" as of Oct. 27.

Shy Datika, INX co-founder and president, said that INX has an "Understanding with a few institutional investors for tens of millions more."

INX has been accepting major cryptocurrencies like Bitcoin and Ether for its IPO since Sept. 10.