The investment company Republic is set to acquire Crypto Trading Firm Inx Digital (InxDF) for a valuation of up to $ 60 million.

Republic’s subsidiary Republic Strategic Acquisition will acquire all issued and outstanding shares in Inx, according to a statement on Thursday.

The transaction is expected to close within eight months subject to closure conditions.

Already an existing shareholder in Inx after acquiring a 9.5% share in 2023, the Republic will fully integrate into Inx’s operations after the end of the transaction.

The New York-based Republic said the acquisition will strengthen its position as a blockchain investor, creating a path to trading token and participating in secondary market opportunities across crypto and real assets (RWAs).

After opening at $ 0.02, InxDF’s shares were added to $ 0.16 after Thursday’s announcement before retiring to $ 0.09 in the following few hours.