In August 2020 HM Government of Gibraltar welcomed the news in a statement that Gibraltar-domiciled company INX had become the first security token IPO cleared by the U.S. Securities and Exchange Commission (SEC). "Established in 2017, INX’s mission is to accelerate the proliferation of regulated digital asset opportunities to institutions, as well as retail investors, while developing its suite of bespoke INX Trading Solutions to enable single entry-point for their customers for the trading of cryptocurrencies, security tokens, and their derivatives. The team is comprised by a number of professionals from the regulated trading, capital markets, and blockchain spheres. "
'Redefining the World of Crypto Trading' INX Gibraltar
From Gibraltar startup to becoming the first SEC approved Security Token Offering.
Experience as a founder up to INX (startups and fintech) - Shy Datika, INX CEO
Crypto, Gibraltar and the US - Alan Silbert Managing Director INX Gibraltar
Local legal team advisory, regulation and advantages - Andrew Montegriffo Senior Associate Hassans
Moderator and legal team advisor - Aaron Payas Partner Hassans
In a landmark achievement for INX, a Gibraltar-based token issuer, Aaron Payas & Andrew Montegriffo from local law form Hassans assisted in INX’s listing by the SEC in the US of the first SEC-approved security token. Aaron described the listing at the time by saying: “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 even 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. We now know, as a firm, that it is not.”
in the media:
Gibraltar’s Minister for Digital and Financial Services, the Hon Albert Isola MP, commented on the INX offering:
“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. Here in Gibraltar, we continue to break new ground with regard to blockchain and crypto innovation, and INX has contributed significantly to this collective effort. I would like to congratulate the INX team who have worked relentlessly to reach today’s milestone.”
Shy Datika, founder and President of INX said their vision for INX and the INX Token required a solid foundation of regulatory clarity for security tokens and cryptocurrencies.
“Gibraltar’s regulators were ahead of other jurisdictions on forging a path in this respect, and so INX was glad to make it our home.”
Aaron Payas, Partner with Gibraltar based Hassans International Law Firm, added that it was a matter of pride for his firm that INX, an SEC-approved STO, is not a US entity but a Gibraltar company:
“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. We now know, as a firm, that it is not.”