Republic acquires INX for $60M to build regulated global platform for tokenized assets

The push to bring digital assets into the mainstream just took a major leap forward.

Republic, a New York-based private investment firm, has announced it will acquire INX, a U.S.-regulated trading platform for digital securities and crypto. The $60 million deal has been approved by the INX board and gives Republic control of the company’s entire issued and outstanding common shares—excluding those it already owns.

The agreement is more than just a typical acquisition. It reflects a growing appetite for bridging traditional finance with blockchain-backed markets and doing so under a regulatory framework that both institutional and retail investors can trust.

Here’s how the deal breaks down: Republic will pay $54.8 million for the remaining shares of INX, with $18.8 million going to rollover shareholders and $36 million earmarked for non-rollover shareholders. From that $36 million, $20 million will be paid in cash at closing, while the remaining $16 million will follow 18 months later. The final valuation may adjust depending on how many shareholders choose to roll over their stake.

This move aligns with Republic’s broader goal of creating a single platform where users can access tokenized investments—including security tokens, cryptocurrencies, and real-world assets (RWAs).

“This acquisition is about more than just expansion—it’s about reshaping access to the private markets,” said Andrew Durgee, co-CEO of Republic. “Republic and INX are building the infrastructure that bridges traditional finance with blockchain, creating new opportunities for investors at every level. We’re proud to bring our expertise together to make tokenized investing more accessible, compliant, and scalable.”

Shy Datika, Founder and CEO of INX, called the acquisition a “defining moment” for digital finance. “Joining forces with Republic accelerates our vision of a fully regulated, tokenized economy that empowers investors globally,” he said. “Together, we’re setting a new standard for how real-world assets and digital securities are issued, traded, and managed.”

Republic will inherit more than just INX’s tech stack. It’s also getting access to INX’s regulatory structure, which includes a U.S.-regulated broker-dealer, an Alternative Trading System (ATS), a transfer agent, and Money Transmitter Licenses (MTLs). That means Republic won’t have to build this infrastructure from scratch—it can plug straight into it.

The two companies have already worked together. INX helped launch Hamilton Lane’s Private Infrastructure Fund and hosted the Republic Note listing on its INX.One platform—early signs of what a combined operation could deliver.

Looking ahead, the goal is to create a full-service platform where businesses can tokenize assets, raise capital, and enable secondary market trading—all within a regulated environment. For investors, it means easier access to a wider range of assets, including RWAs, shares, security tokens, stablecoins, crypto, bonds, ETFs, private credit, and real estate.

Once the dust settles, the merged entity will serve more than 3.2 million investors across the globe.

Republic has already built a strong presence in retail-focused investing, with backing from big names like Valor Equity Partners, Galaxy Interactive, HOF Capital, and AngelList. The company’s portfolio includes over 2,000 startups, and more than $3 billion has been invested across its platforms in 150+ countries.

INX, for its part, has blended traditional finance with fintech to offer a regulated digital asset marketplace. Its team includes veterans from business, tech, and finance who are focused on building compliant infrastructure for a new kind of capital market.

Put together, this deal isn’t just about scale—it’s about legitimacy. The crypto industry has struggled with regulatory pushback and fragmented platforms. Republic and INX are betting that compliance and structure—not hype—are what will drive the next chapter of digital investing.

Founded in 2016 as a spinoff of AngelList by veterans Kendrick Nguyen and Paul Menchov, Republic is an investment platform providing retail investors around the world with compliant access to curated startups and blockchain projects. Republic operates under U.S. equity crowdfunding regulations and is under the supervision of the U.S. Securities and Exchange Commission and the U.S. Financial Industry Regulatory Authority.