Republic invested $5.25 million to acquire a 9.5% stake in the cryptocurrency trading platform operator INX Digital

ChainCatcher news, the cryptocurrency trading platform operator INX Digital Company, Inc. announced that it has completed its first round of investment from global financial company Republic (i.e., OpenDeal Inc.).

According to the subscription agreement signed by both parties on June 15, 2023, Republic has officially acquired a 9.5% stake in INX with an investment of $5.25 million. This investment is based on an estimated valuation of INX at approximately $50 million and will be paid to INX in cash and in the form of Republic's preferred Series B shares.