The INX Digital Company, Inc., a US-regulated broker-dealer, ATS, and transfer agent, has announced the successful conclusion of its initial investment phase with OpenDeal Inc., also known as Republic. This development comes as part of the Subscription Agreement dated June 15, 2023, between the two entities. Republic, a renowned global financial firm, has acquired 9.5% of INX’s shares with an investment of US$5.25 million, reflecting a pre-money valuation for INX of approximately US$50 million.
This collaboration aims to expand the scope of tokenization infrastructure and democratize access to digital assets globally. Following this investment, both INX and Republic are considering a non-binding term sheet related to the potential acquisition of all issued and outstanding share capital of INX by Republic, which could amount to up to US$120 million.
Shy Datika, CEO of INX, emphasized the significance of this partnership, stating,…
