TenX Protocols (TNX) to Start Trading on Toronto Venture Exchange After Raising $24M in 2025

TenX Protocols, a blockchain infrastructure company focused on staking and validator operations, will start trading on the TSX Venture Exchange (TSXV) on Dec. 10 under the ticker symbol “TNX.”

The listing follows the close of subscription receipt financings totaling C$29.9 million ($22 million), which were completed in connection with its go-public transaction, the company said Wednesday. Total capital raised this year exceeds C$33 million, including a C$3.5 million seed round completed in March.

Subscription receipts are a common Canadian financing tool. They allow a company to raise money before a transaction such as an acquisition, reverse takeover or other listing process is completed. Investors put up capital before the event, but don’t receive shares right away; instead, they get subscription receipts that convert into shares once the deal closes.

TenX said it plans to use the proceeds to buy tokens of high-throughput blockchain networks and stake them to help secure those networks. It will also invest in its own infrastructure products and services.

The financings included brokered and non-brokered private placements priced at C$0.75 per subscription receipt, with part of the proceeds contributed in digital assets including SOL, SEI and USDC, the company said.

The firm listed Borderless Capital, BONK Contributors, DeFi Technologies, HIVE Blockchain Technologies and Chorus One as investors.

“Canada has always been a pioneer in bridging the crypto world to a broader investor audience through the public markets,” said Alex Tapscott, an adviser to TenX Protocols, in emailed comments.

TenX said it provides public-market exposure to staking and validator activity across networks including Solana, Sui and Sei, alongside treasury management and related services.

Read more: Pye Finance Raises $5M Seed Round Led by Variant and Coinbase Ventures