tl;dr
Global financial firm Republic, backed by Morgan Stanley, plans to purchase real-world asset tokenization platform INX for up to $60 million. Republic aims to fully immerse itself in digital assets and decentralized finance through this acquisition. INX's CEO highlights the vision of a regulated, to...
Republic, backed by Morgan Stanley, is planning to acquire real-world asset tokenization platform INX for up to $60 million. This acquisition is part of Republic's strategy to fully immerse itself in digital assets and decentralized finance. INX's founder sees the merger with Republic as a step towards establishing a regulated, tokenized economy and setting a new standard for issuing, trading, and managing real-world assets and digital securities. Republic's acquisition of the remaining INX shares comes at a significant 457% premium, signaling a strategic move into the blockchain and tokenization space.
Republic, backed by Morgan Stanley, intends to purchase real-world asset tokenization platform INX for up to $60 million. The acquisition aims to facilitate Republic's full involvement in digital assets and decentralized finance. The CEO of INX envisions this merger as a key step towards a regulated, tokenized economy and a new standard for asset and securities management. Republic's acquisition of the remaining outstanding shares of INX is at a 457% premium based on its latest closing price. Currently, INXDF is trading at $0.0634, reflecting a 20.75% decrease for the day.
Global financial firm Republic, with backing from Morgan Stanley, is planning to purchase a crypto and tokenized securities trading platform for tens of millions of dollars. According to a press release, Republic aims to acquire real-world asset tokenization platform INX (INXDF) for up to $60 million. This move is positioned to enable Republic to fully engage in the digital assets space, offering blockchain-based decentralized finance (DeFi) and tokenization services. The acquisition represents a premium of 457% based on the latest closing price for the remaining outstanding shares of INX. INXDF is currently trading at $0.0634, experiencing a 20.75% decrease for the day.