Republic Set to Acquire Crypto Firm INXDF For $60 Million

Investment company Republic is considering acquiring crypto trading firm INX Digital Company. The proposed transaction, valued at $60 million, will be handled through its subsidiary, Republic Strategic Acquisition. Republic Goes From Stakeholder to Owner An official announcement stated that this acquisition includes all issued and outstanding shares of INX. Based on the scheduled timeline, the entire acquisition process will close within the next eight months, although it is still subject to some closing conditions. The New York-based Republic has been a stakeholder in INX for a few years, holding about 9.5% of the company’s shares. This move is a strategy to fully integrate itself into the firm’s operations. Republic believes the acquisition will strengthen its position as a blockchain investor. In the long run, this will create a pathway for trading tokens and engaging in secondary market opportunities across crypto and Real-world Assets (RWAs). Price of INXDF Share Sees Sharp Spike Meanwhile, the news of the acquisition has caused INXDF shares to leap in price. As soon as the announcement was made, the stock spiked to $0.16, but it later retreated to $0.09, which is also a good price judging by the $0.02 opening market value. At the time of this writing, INXDF shares still traded at $0.09, but with a 0.056% increase within 24 hours. As it has triggered an increase in the price of INXDF, the acquisition is likely to benefit Republic as well. Crypto Mergers and Acquisitions in the Industry In the same spirit of acquisitions, popular Bitcoin mining company Bitfarms finalized the purchase of Stronghold Digital Mining firm a few weeks back. The transaction was conducted through a stock-for-stock merger that required Stronghold stakeholders to receive 2.52 shares of Bitfarms for each share of Stronghold they owned. Also, Bitfarms had to pay $44.5 million to settle Stronghold’s outstanding loans as part of the merger. Recently, Kraken agreed to acquire NinjaTrader, a well-known U.S. retail derivatives platform, for $1.5 billion. The announcement stated that this acquisition will help Kraken expand in the U.S. futures market. It also marks a significant step in combining Traditional Finance (TradFi) and Decentralized Finance (DeFi). The post Republic Set to Acquire Crypto Firm INXDF For $60 Million appeared first on TheCoinrise.com .