INX Launches Public Company Security Token
INX, a renowned digital assets trading platform, has made a significant move in the crypto industry by launching its first-ever public securities token. This new token represents shares of Greenbriar Capital, a company known for developing entry-level housing and green energy products.
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What's remarkable about this launch is that it's the first time Greenbriar shares are available to trade on a public blockchain network.
INX security tokens conform to the ERC-1404 simple restricted token standard and exist on the Ethereum network. Those who purchase security tokens through INX must whitelist their Ethereum address through Metamask. The smart contract keeps track of which addresses have been whitelisted, and any attempt to transfer tokens to an unlisted address results in a failed transfer. INX does not hold users' security tokens on their behalf, and the tokens are only held in the user's wallet.
Greenbriar Capital's tokenized shares join INX's previously listed security tokens representing privately held companies. These are INX, which represents shares of the platform's own company, and MSCO, which represents shares of the MS Token fine art studio.
Tokenization of securities is a contentious issue in the crypto space due to the extensive disclosures developers must provide to government bodies. Despite this, experts believe that tokenization of securities will bring numerous benefits to the traditional financial industry. Tokenization enables faster and cheaper transactions, while also allowing investors to access fractional ownership of previously inaccessible assets.
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