INX, a Gibraltar-based cryptocurrency exchange,
is now accepting major cryptocurrencies as part of its initial public
offering. The company hopes to raise $117 million from both retail and
institutional investors.

Starting Monday, the company will accept payments in Bitcoin (BTC), Ether (ETH), and USD Coin (USDC), INX officially announced on Thursday. Since launching the IPO, INX raised $7.5 million by Sept. 10, the firm's representatives said.

According
to the announcement, more than 3,000 retail and accredited investors
registered for the INX token offering in the first three days. INX said
the company set the offering price at $0.90 per token, with a minimum
investment of $1,000. BTC/USD, ETH/USD and USDC/USD exchange rates will
be determined in the manner as disclosed in the final prospectus, the
firm noted.

As previously reported, INX’s ongoing sale is the first-ever security token IPO that is registered with the United States Securities and Exchange Commission. A registration statement relating to the offering of these securities was declared effective by the SEC on Aug. 20.

In
the announcement, INX clarified that the offering is only available in
California, Colorado, Connecticut, Georgia, Hawaii, Illinois, Louisiana,
Michigan, Minnesota, New York, Texas, Washington, Wisconsin and
Wyoming.

According to the firm, INX intends to use the funds
raised from the sale of INX tokens to launch a multiservice digital
asset platform. As such, INX plans to set up a regulated crypto trading
platform for crypto, security tokens and their derivatives, as well as
to launch a cash reserve fund.

In late August, some figures in the crypto community explicitly criticized INX for “shilling” an SEC-cleared token. As reported, Stefan Jespers, known as WhalePanda on Twitter, compared the INX token
to Binance's native token, Binance Coin (BNB). Jameson Lopp, the chief
technology officer of Casa and a self-proclaimed cypherpunk, expressed a similar stance, stating: “Not an equity offering. Not yo’ mama’s ICO. A guaranteed share of cash flow.” 

sourcelink: https://cointelegraph.com/news/inx-starts-accepting-crypto-payments-after-raising-7-5m-in-its-ipo