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Brave New Coin indices used in an SEC-authorised IPO
Brave New Coin indices used in an SEC-authorised IPO
Crypto

Brave New Coin indices used in an SEC-authorised IPO

By Marco Cavicchioli - 22 Oct 2019

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Brave New Coin (BNC) has announced that its cryptocurrency indices will be used in an SEC-approved IPO. 

This is the first security token-based IPO registered with the US Securities and Exchange Commission. 

The indices used will be Bitcoin Liquid Index (BLX) and Ethereum Liquid Index (ELX), created and managed by BNC, and will serve as a reference for conversion rates between US dollars and cryptocurrencies. The same indices are also used for the Factiva global Dow Jones database, which aggregates over 30,000 premium sources and provides indices and data to NASDAQ, Amazon Alexa, TPICAP, Refinitiv. 

The security token will be launched by the fully authorised and regulated INX platform, led by Alan Silbert and an experienced team of veterans from business, finance and technology. INX is also the name of the token that will be launched, and whose placement on the market has been approved by the SEC. 

Brave New Coin founder and CEO Fran Strajnar said: 

“To see high-stake industry developments, like INX’s highly anticipated security token sale, starting to demand quality and independent 3rd party reference rates is a true sign of market maturation. Having conducted due diligence on all ETF and registered security token sales to date, we have identified that a common concern by regulators is poorly constructed benchmark pricing, resulting in a qualitative risk to investors. The INX team and value proposition are highly impressive and we are pleased to be supporting Alan and his team through this process”.

Brave New Coin was founded in 2014 and focuses specifically on data and research focused on the blockchain and crypto-asset industry, offering various tools and resources including industry news, data, technical analysis and analytics. 

 

Marco Cavicchioli
Marco Cavicchioli

Born in 1975, Marco has been the first to talk about Bitcoin on YouTube in Italy. He founded ilBitcoin.news and the Facebook group" Bitcoin Italia (open and without scam) ".

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