Republic, a major financial firm backed by Morgan Stanley, is buying INX, a platform for trading crypto and tokenized securities. The deal, valued at up to $60 million, will see Republic acquire all of INX’s outstanding public shares.
A Big Move into Digital Assets
This acquisition allows Republic to dive headfirst into the world of digital assets. They’ll gain access to INX’s blockchain-based decentralized finance (DeFi) and tokenization services. Republic was already an INX shareholder, making this a natural next step.
What INX Brings to the Table
INX CEO Shy Datika sees this merger as a huge step towards a fully regulated, global tokenized economy. He highlights the combined strengths of INX’s expertise in security tokens and crypto trading, along with Republic’s extensive investment network. The goal is to create a complete, regulated investment ecosystem bridging traditional finance and blockchain technology.
A Premium Price
Republic is paying a hefty price, offering a 457% premium over INX’s latest closing price. Despite this, INXDF is currently trading down for the day.
Disclaimer: This information is for general knowledge only and is not financial advice. Always do your own research before investing.
/p>
