Republic Expands Digital Asset Presence with INX Acquisition
Deal News | Apr 04, 2025 | EIN
In a significant boost to its digital asset capabilities, Republic, a New York-based investment platform, announced its acquisition of the Canadian firm INX Digital Company for up to $60 million. This strategic move underscores Republic's ambition to become a leader in the regulated crypto asset ecosystem by integrating INX's trading infrastructure, which includes U.S.-licensed broker-dealer, ATS, transfer agent, and Money Transmitter Licenses. The acquisition expands Republic's ability to offer a broad spectrum of digital assets to a global investor base exceeding 3.2 million individuals. Shares of INXDF surged by 180% upon announcement, a testament to market confidence. The merger will enhance technological and regulatory avenues, catalyzing the development of decentralized financial products accessible to emerging markets.
Sectors
- Financial Services
- Cryptocurrency and Blockchain
Geography
- United States – Republic is a New York-based investment platform, which drives the U.S. relevance in this acquisition.
- Canada – INX Digital Company, the acquired firm, is based in Canada, underscoring the cross-border nature of the transaction.
Industry
- Financial Services – The industry involves finance-related activities such as investments, trading, and asset management, which are core to the activities of Republic and INX Digital.
- Cryptocurrency and Blockchain – Relevant due to the focus on digital and tokenized asset ecosystems, incorporating blockchain technology and crypto assets.
Financials
- 60 million dollars – Total value of the acquisition deal between Republic and INX Digital.
- 5.25 million dollars – Amount invested by Republic in INX in 2023 to acquire a 9.5% stake.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Republic | Bidding Company | Company | A New York-based investment platform acquiring INX Digital. |
| INX Digital Company | Target Company | Company | A Canadian firm specializing in the trading of regulated crypto assets. |
| Valor Equity Partners | Investor | Company | One of the investors backing Republic. |
| Galaxy Interactive | Investor | Company | Another investor supporting Republic. |
| Shy Datika | CEO of INX | Person | CEO leading the strategic vision of INX Digital. |