The global financial firm Republic is planning on purchasing a crypto and tokenized securities trading platform for tens of millions of dollars.

According to a new press release, Republic – founded in 2016 and backed by banking giant Morgan Stanley – plans on purchasing real-world asset tokenization platform INX (INXDF) for up to $60 million.

The terms of the deal would have Republic purchase all outstanding public shares of INX for approximately $54.8 million, though the finalized deal could be worth up to $60 million.

The press release says Republic was interested in acquiring INX because it allows the firm, which was already a shareholder of INX, to fully immerse itself in the world of digital assets by providing blockchain-based decentralized finance (DeFi) and tokenization services.

As stated by Shy Datika, Founder and chief executive of INX,

“Joining forces with Republic accelerates our vision of a fully regulated, tokenized economy that empowers investors globally. Together, we’re setting a new standard for how real-world assets and digital securities are issued, traded, and managed.

By combining INX’s expertise in security token and cryptocurrency trading with Republic’s global investment reach, the merged entity will offer a full investment lifecycle in a regulated and scalable ecosystem – bridging traditional finance and blockchain technology.”

According to the press release, Republic is purchasing the rest of INX’s outstanding shares at a staggering 457% premium, based on its latest closing price.

INXDF is trading for $0.0634 at time of writing, a 20.75% decrease on the day.

 

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/Zaleman/Fotomay

The post Financial Firm Republic Plans To Acquire Crypto and Tokenized Securities Trading Platform INX for $60,000,000 appeared first on The Daily Hodl.

The global financial firm Republic is planning on purchasing a crypto and tokenized securities trading platform for tens of millions of dollars.

According to a new press release, Republic – founded in 2016 and backed by banking giant Morgan Stanley – plans on purchasing real-world asset tokenization platform INX (INXDF) for up to $60 million.

The terms of the deal would have Republic purchase all outstanding public shares of INX for approximately $54.8 million, though the finalized deal could be worth up to $60 million.

The press release says Republic was interested in acquiring INX because it allows the firm, which was already a shareholder of INX, to fully immerse itself in the world of digital assets by providing blockchain-based decentralized finance (DeFi) and tokenization services.

As stated by Shy Datika, Founder and chief executive of INX,

“Joining forces with Republic accelerates our vision of a fully regulated, tokenized economy that empowers investors globally. Together, we’re setting a new standard for how real-world assets and digital securities are issued, traded, and managed.

By combining INX’s expertise in security token and cryptocurrency trading with Republic’s global investment reach, the merged entity will offer a full investment lifecycle in a regulated and scalable ecosystem – bridging traditional finance and blockchain technology.”

According to the press release, Republic is purchasing the rest of INX’s outstanding shares at a staggering 457% premium, based on its latest closing price.

INXDF is trading for $0.0634 at time of writing, a 20.75% decrease on the day.

 

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/Zaleman/Fotomay

The post Financial Firm Republic Plans To Acquire Crypto and Tokenized Securities Trading Platform INX for $60,000,000 appeared first on The Daily Hodl.