How INX Limited Became The Blockchain's First Of Many "Firsts"

The following post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga.

More than a month has passed since INX Limited listed the world’s first SEC-registered blockchain security token, and that isn’t the only significant first for INX. With new partnerships and new platforms, INX is an emerging leader of regulated training and blockchain assets.  

The INX Token is the only U.S. Registered Security that is now listed on the blockchain, and it can be traded 24/7 and 365 days a week. The token never sleeps, causing the volume transacted within the past weeks to eclipse many days of INX’s competitors’ trading volume.

With no closing bell for digital securities, the INX token is the first of its kind. INX is also the first and only company to pioneer an SEC clearance for the listing of their security token and the only company to obtain FINRA clearance for trading and clearing cryptocurrencies. These onlys and firsts have set up INX as the frontrunner in the digital-currency game. 

Currently, INX is the number one security token on a global basis, trading at over $330,000,000 market cap and surpassing security token veterans, such as tZero and others, in more than a 3 to 1 ratio. 

All of the trading data is reported in live time on Etherscan, and the numbers are rising. Since the listing, the number of token holders rose from 7,250 to 7,829 and the token has seen over $4MM in volume. Etherscan enables participants trading the INX token to see who they bought or sold tokens from or to. They can see if their counterpart is a new entrant or an entrenched whale, or whether they are simply a day trader. This is because Etherscan provides detailed information about every transacting wallet.  

Upon the closing of its IPO in April, INX garnered $83.6 million in gross proceeds from over 7,300 retail and institutional investors with 92.9 million INX Tokens sold at a price of $0.90. It took INX over 950 days to bring the INX Token to market, and then it sold in a registered public offering and opened its trading platform. Since closing the IPO, the company has opened its cryptocurrency trading platform to the public and finalized its acquisition of Openfinance Securities, LLC (which has changed its name to INX Securities, LLC). 

INX also purchased ILS Brokers, an interdealer broker, with $5 billion in monthly volume. ILS Brokers will expand INX’s global institutional reach while focusing on lead generation, OTC trading, and the development of Bitcoin and Ethereum Non-Deliverable Forward contracts. In addition, the listing of the Japanese financial giant GMO Trust’s regulated Japanese Yen stable coin (GYEN) on the cryptocurrency is upcoming. 

INX believes that the ease of its trading platform will welcome new retail investors into the world of cryptocurrency and blockchain. And with a 298% increase in token value and the skyrocketing tractions of global investors, INX has been positioned as the leader in the digital wave, setting the stage and establishing the path for the new world of digital assets over the blockchain.

Image by Erdenebayar Bayansan from Pixabay

The preceding post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga. Although the piece is not and should not be construed as editorial content, the sponsored content team works to ensure that any and all information contained within is true and accurate to the best of their knowledge and research. This content is for informational purposes only and not intended to be investing advice.