Cryptocurrency exchange INX is all set to move forward with its digital security token listing on exchanges across the whole world. As per an official announcement, the Gibraltar-based digital currency exchange will see the listing of its digital security token called the INX Token on the Canadian Securities Exchange (CSE) and has already applied for this.
The Approval of the CSE is required
The application for the listing of the INX token requires approval from the Canadian Securities Exchange. As soon as, the listing application is approved, the INX token will become the first digital security token to get listed on a traditional stock exchange.
Apart from the Canadian Securities Exchange, INX also plans to list its token on various other global exchanges as well. However, the first target is the CSE exchange, a representative from INX said.
While talking about digital securities, the Co-Founder and President of INX, Shy Datika said:
“Digital securities represent new opportunities in regulated cross-border trading and multi-listings. It is a new era in capital markets where each listed security can be seamlessly traded on multiple exchanges providing much higher access to capital and liquidity for each trading asset.”
A crucial move for boosting a $117 million IPO
Currently, an Initial Public Offering (IPO) event of the exchange is going on in which it aims to raise an amount of $117 million. This digital security IPO was launched recently later in the month of August and is registered by the United States Securities and Exchange Commission (SEC). Reportedly, $10 million has been raised by the company so far. This IPO event will remain to continue by the end of the present year. It will be a massive milestone for INX if it succeeds in raising the targeted amount.
Since the 10th of September, the exchange started accepting payments in top digital currencies including the world’s largest cryptocurrency by market cap Bitcoin (BTC), Ethereum (ETH), and USD Coin (USDC).
This move of the listing of its digital security token on the CSE exchange will boost the expansion of its IPO further.