Coinspeaker
INX and Republic Partner to Develop Blockchain Infrastructure for Improving Crypto Access and Expanding Tokenization
Financial services firm Republic has partnered with broker-dealer INX to develop a blockchain service for primary and secondary markets. The collaboration between both companies is part of an investment deal that sees Republic pump $5.25 million into INX. The transaction gives Republic 9.5% of INX’s outstanding shares.
The investment was calculated at a $50 million pre-money valuation. The two companies have also agreed to a non-binding term sheet that could see INX sell all of its common equity at a possible $120 million valuation.
According to an official statement, the two companies hope to improve global investor access to cryptocurrencies and enhance tokenization. The statement also highlights specific points expected from the collaboration between Republic and INX. The companies plan to democratize finance and create more investment opportunities via
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