Gibraltar-based INX becomes first SEC-cleared security token IPO
HM Government of Gibraltar today welcomed the news that Gibraltar-domiciled company INX has become the first security token IPO cleared by the U.S. Securities and Exchange Commission (SEC). Gibraltar’s Minister for Digital and Financial Services, the Hon Albert Isola MP, said, “The news that the Gibraltar-domiciled INX platform has become the first SEC-cleared security token IPO is a hugely important moment for INX, but also for our jurisdiction’s burgeoning ecosystem.
Aaron Payas, Partner with Gibraltar based Hassans International Law Firm continued, “It is a matter of some pride for Hassans, INX and for Gibraltar that the first security token offering approved by the SEC for distribution to the US public isn’t a US entity – it is a Gibraltar company, constituted and operating under the Laws of Gibraltar. This is an excellent development for the jurisdiction, the efforts of which in the DLT and wider fintech space are being validated by the successful filing of the INX security token – making a public offering of tokens in the US had long been the ambition of many projects in the industry, something that was thought by many to be impossible.
