TenX Goes Public and Strengthens Its Staking Position
Date: 2025-12-12 Author: Gabriel Deangelo Categories: BLOCKCHAIN
The TenX blockchain project announced the commencement of trading on the Canadian TSX Venture Exchange, where its shares became available on December 10 under the ticker TNX. Concurrently, the company completed a major funding round, raising over $24 million in 2025, including C$29.9 million (approximately $22 million) in a transaction accompanying the listing.
According to CoinDesk, the funds were raised through subscription receipts, a common tool used in Canada by companies in preparation for an IPO. This format allows for the investment to be locked in before the issuer officially goes public.
TenX management clarified that the capital raised will be used for several key tasks. The bulk of the funds will be used to acquire "high-performance blockchain" tokens, including Solana, Sui, and Sei. These assets will subsequently be used for staking, strengthening the company's involvement in supporting the network infrastructure and increasing its profitability through validator activity. Furthermore, TenX plans to expand its own services and develop its technological base, offering new solutions for the ecosystem.
Interestingly, part of the company's funding was raised not in fiat, but directly in digital assets—Solana, Sei, and USDC. Major participants in the round included Borderless Capital, BONK Contributors, DeFi Technologies, HIVE Blockchain, and Chorus One. These entities are long known for their investments in the blockchain sector and support for projects related to infrastructure and high-performance networks.
TenX advisor Alex Tapscott emphasized that the company's listing on the TSX Venture is a logical continuation of Canada's commitment to integrating crypto technologies into traditional finance. According to him, the country remains a leader in creating conditions where innovative digital projects can interact with public markets on a legitimate basis.
Earlier, it was reported that the startup Cascade also strengthened its presence in the industry, raising $15 million from Polychain Capital, Coinbase Ventures, and other investors, confirming the continued high activity of venture capital funds in the crypto industry even amid market volatility.
