Investment Firm Republic Buys Stake in Crypto Broker-Dealer INX at $50M Valuation

New York-based INX , a digital asset broker-deal has received a $5.25 million investment from investment firm Republic, with an option for a full buyout later this year.

Republic will acquire around a 9.5% stake in INX at an approximate $50 million pre-money valuation, with a"non-binding" commitment to acquire of 100% of equity at a valuation of $120 million as early as third quarter of this year. The closing of the initial deal is expected to be within 60 days, subject to regulatory approval.

The goal of the two firms is to"expand the breadth and depth of tokenization infrastructure and access to digital assets for investors worldwide," according to an emailed announcement on Monday. Also headquartered in New York, Republic is a digital merchant bank operating retail-focused investment platforms, backed by Galaxy Interactive and Morgan Stanley among others. The integration of INX's digital asset coverage into Republic's platforms could therefore present a major expansion in crypto trading capabilities on offer to a large traditional finance client base.

"By integrating INX's digital trading infrastructure for financial markets with Republic's expertise in primary distribution, we are redefining the way capital is raised and empowering both institutional and retail investors globally," said Kendrick Nguyen, CEO of Republic in the statement.

ประเทศไทย ข่าวล่าสุด, ประเทศไทย หัวข้อข่าว

Similar News:คุณยังสามารถอ่านข่าวที่คล้ายกันนี้ซึ่งเรารวบรวมจากแหล่งข่าวอื่น ๆ ได้

Salesforce Ventures Lead $6M Seed Extension Investment in NFT Intelligence Firm MnemonicMnemonic offers NFT data, analytics and insights to help developers and enterprises create Web3 products via its APIs.
แหล่ง: Crypto_Potato - 🏆 568. / 51 อ่านเพิ่มเติม »

Jacksonville awarded $1.088 million in state funding to support Military investmentThe state of Florida has granted the city a total of $1,088,000 through various programs aimed at bolstering defense infrastructure and advocacy initiatives.
แหล่ง: WOKVNews - 🏆 247. / 63 อ่านเพิ่มเติม »

Taiwan seeks closer EU ties in return for chip investmentEuropean countries should strengthen relations with Taiwan if they want continued Taiwanese investment in semiconductor production, Foreign Minister Joseph Wu said during a visit to Europe last week.
แหล่ง: Reuters - 🏆 2. / 97 อ่านเพิ่มเติม »

Commentary: Investment in Our Graduates Is Vital to Denver's Prosperity'As a city, we must lift and celebrate our young people, acknowledging their strengths and demonstrating our belief that opportunity opens unlimited possibilities.'
แหล่ง: denverwestword - 🏆 315. / 61 อ่านเพิ่มเติม »

Ensuring clean and safe water requires investment | OpinionIt costs money to have clean drinking water and sanitation.
แหล่ง: PennLive - 🏆 463. / 53 อ่านเพิ่มเติม »