Crypto Exchange Opens Global Tokenized Access to SpaceX IPO

A major cryptocurrency exchange is opening global retail access to the highly anticipated initial public offering of SpaceX through tokenized shares. Eligible customers in more than 110 jurisdictions can now register interest in acquiring equity in the aerospace company before it begins trading on public markets.

The initiative, called IPO Access, is being launched through the exchange's xStocks tokenized equities platform. Investors who receive an allocation will be issued SPCXx, a blockchain-based token designed to represent SpaceX equity on a one-to-one basis, with the underlying shares held by a regulated custodian. The offering is not available to users in the United States, Canada, Australia, or the United Kingdom due to local regulatory restrictions, but it is accessible across the European Economic Area and numerous other international markets.

SpaceX is widely expected to begin public trading on June 12, targeting a raise of approximately $75 billion at a valuation exceeding $1.8 trillion. If achieved, this would make it the largest IPO on record, surpassing the 2019 listing of Saudi Aramco. Reports indicate investor demand has already outstripped the number of shares...