INX Trading Solutions launched one of the only SEC-approved security token offerings in the US on August 26. The exchange targets to clear its competition with other exchanges through superior technology token offerings and build long-lasting relationships.
The company went ahead to gain massive attention from the financial community through its controversial tweet. It indicated a chart showing its progress as an exchange into security tokens while assuring users a “guaranteed share of cash flow.”
Another Twitter source suggested Bloomberg’s Joe Weisenthal approach, enquiring more details on the y-axis of the chart. The source went on to display a response by the company saying it is, “whatever you want it to be.”
A Distinguishing STO
INX is among the few companies that looked for SEC’s approval before their security token offering, placing it in a better position to compete with existing altcoins. According to Jameson Lopp, an advisory to the exchange, INX sets itself aside from other offerings considering that INX tokens are under regulations.
The STO is distributing 130 million INX tokens at $0.90 beginning on Tuesday for the same purpose. Buyers need a $1000 minimum investment to participate in the sale. Many crypto gurus expect a successful undertaking considering the relationship INX has with the SEC, which holds the reins of crypto assets in the US.
Previous Announcement on the Form F-1 Approval
Since the company’s announcement on the plans to launch the STO last week, it has been busy acquiring filing on the SEC. On August 24, it expressed the triumphant registration of its Form F-1 on the commission concerning the ongoing STO. Previously, INX submitted a draft prospectus to the SEC in August 2019.
Curiously, the company followed for the STO since it is still in its pre-product stage while most do so when they are up and running.
What to Expect
INX holdings hope to leverage part of the funds from the offering to advance it as an exchange. It is working towards active trading solutions in blockchain-related assets, including cryptos, security tokens, and spin-offs. It also aims to develop a cash reserve fund for the cause in the future.
INX urges any potential investors to view the registration forms on the SEC website while keeping in mind that it is yet to release the project’s final prospectus. Once available, anyone can acquire the documents at no cost by visiting EDGAR on the SEC official website or through emailing the company.