Crypto exchange INX applies to list its digital security 'INX Token' on the Canadian Securities Exchange

The as-yet-unlaunched crypto exchange INX has applied to list its digital security on the Canadian Securities Exchange (CSE).

Announcing the news on Friday, INX said the listing application is subject to the CSE's approval. Once green-lighted, the INX token would get listed on the traditional stock exchange.

INX is currently amid an initial public offering (IPO) using its tokens. The firm has so far raised $10 million out of the targeted amount of $117 million. While the IPO is still open until the end of 2020, it looks challenging for INX to get the desired amount.

INX, headed by Digital Currency Group founder Barry Silbert's brother Alan, is looking to develop INX Trading Solutions, a regulated exchange for cryptocurrencies, security tokens, and derivatives.

Earlier this week, INX said it would acquire Chicago-based broker-dealer Openfinance Securities. The deal is subject to regulatory approvals and other closing conditions.