Trading platform INX estimates $125 million raised in equity, token offerings

FILE PHOTO: A representation of virtual currency Bitcoin is seen in front of a stock graph in this illustration taken March 15, 2021. REUTERS/Dado Ruvic/Illustration

NEW YORK (Reuters) - INX Ltd, the blockchain-based global trading platform for digital securities and cryptocurrencies, said on Monday it expects to have raised $125 million in a security token and equity offering.

Proceeds from the first-ever initial public offering of security tokens amounted to $85 million, received from more than 7,200 institutional and retail investors, the company said. That adds to INX's previously closed private token sale of $7.5 million and a pending equity offering in Canada that raised C$39.6 million (roughly US$32.2 million).