INX

What INX does

INX (The INX Digital Company, Inc.) operates a regulated digital asset trading platform that combines cryptocurrency exchange services with tokenized real-world asset (RWA) securities trading. Through wholly-owned subsidiaries — INX Securities, LLC (SEC-registered broker-dealer and FINRA/SIPC member ATS), INX Digital, Inc. (FinCEN-registered money transmitter), INX Transfer Agent, LLC, and INX Limited (Gibraltar) — the company provides a unified platform at one.inx.co supporting cryptocurrencies (BTC, ETH, SOL, AVAX, ADA, plus stablecoins and DeFi/memecoin assets), tokenized stocks (bTSLA, bNVDA, bAAPL via Backed), Republic Note, and security tokens backed by films, sports, commodities, real estate, and equity. The platform operates on Ethereum and Avalanche networks with self-custody, fiat/crypto/stablecoin funding, 24/7 markets, and integrated KYC/AML compliance.

INX monetizes primarily through transaction and brokerage fees: 1.5% commission on security token notional (plus $1 network service fee) and 0.3% maker / 0.4% taker on crypto trades, with additional revenue from funding/withdrawal fees, referral commissions from partners (Republic, Siebert), and B2B payment infrastructure fees via the TCS Blockchain/PYUSD stablecoin integration. The company pursues a hybrid go-to-market: self-serve retail through the platform, enterprise sales via its broker-dealer for issuer services, and channel partnerships with Republic (3M community, $2B+ deployed) and Siebert (NASDAQ: SIEB) for RWA distribution. As of November 10, 2025, INX operates as a wholly-owned subsidiary of OpenDeal Inc. (d/b/a Republic) following a transaction approved by shareholders and FINRA, combining INX's regulated infrastructure with Republic's investment platform network. Q1 2024 revenue was $1.5M with a $2.6M net loss from operations, against a balance sheet of $24.8M operating capital, $20M working capital, and a $34.4M reserve fund for customer protection.

Name

INX

Legal name

The INX Digital Company, Inc.

Website

https://inx.co

Company type

Public

Founded year

2017

Operating status

Operating

Headcount range

101–250 employees

Short description

INX operates a regulated digital asset trading platform combining cryptocurrency exchange with tokenized real-world asset securities trading. As a Republic (OpenDeal Inc.) subsidiary since November 2025, it serves retail and institutional investors via SEC-registered broker-dealer and FINRA-member ATS infrastructure.

Ownership category

akta.pro rank

Product category

Digital Asset Trading & Tokenized Securities Exchange

NAICS

Securities and Commodity Contracts Intermediation and Brokerage (5231), Securities and Commodity Exchanges (5232), Securities and Commodity Exchanges (52321), Investment Banking and Securities Intermediation (523150)

SIC

Security & Commodity Brokers, Dealers, Exchanges & Services (6200), Security Brokers, Dealers & Flotation Companies (6211)

akta.pro primary industry

Spot Crypto Exchanges (Order-Book & Matching Engine) (FSADAAAA)

akta.pro secondary industries

Centralized Crypto Exchanges (CEX) (FSAPADAA), Brokerages & On/Off-Ramps (fiat rails, instant buy/sell) (FSAPADAG), Crypto Custody & Exchange Wallet Services (Integrated) (FSADAAAG), Fiat On/Off-Ramps & Payment Rails (Exchange-Operated) (FSADAAAF)

Keywords

• Regulated digital asset trading
• Security token exchange
• Cryptocurrency brokerage services
• Tokenized real-world assets
• Alternative trading system

Headquarters

HQ city

Vancouver

HQ country

Canada

HQ region

North America

Offices4 records

Markets served

GTM type

B2B and B2C

Offering type

Software

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure, Supply Chain

Revenue model

1. Transaction and Brokerage Fees: INX earns transaction-based fees on executed trades. For security tokens, both buyer and seller pay 1.5% commission on notional amount sold, plus $1 network service fee per order. For cryptocurrency trading, maker fee is 0.3% and taker fee is 0.4% of notional amount. This is the primary revenue driver as stated in Q1 2024 financial results.
2. Referral and Commission Revenue: Under the expanded Republic partnership, INX earns commissions from revenues Republic generates from securities issuers referred by INX. The Siebert referral agreement similarly generates revenue from introductions of RWA projects. INX also earns fees from primary raise services for issuers conducting token offerings.
3. Fiat and Crypto Withdrawal/Deposit Fees: Various fees on funding and withdrawal methods: ACH withdrawal $5, wire withdrawal $35 domestic/international, credit/debit card deposit 3.75%, converted withdrawals 1.2% with $30 minimum, converted deposits 1.2%. Crypto withdrawal fees vary by asset (e.g., BTC 0.0005, ETH 0.013, USDC $5).

Pricing tiers

Go-to-market motion3 records

Distribution channels5 records

Marketing channels5 records

Core offering

INX operates a regulated digital asset trading platform (INX One) that enables individuals and institutions to buy, sell, and trade cryptocurrencies, stablecoins, and tokenized real-world securities 24/7 on a blockchain-based market with self-custody. Through INX Securities, LLC (SEC-registered broker-dealer and FINRA-member ATS) and INX Digital, Inc. (FinCEN-registered money transmitter), it also supports primary capital raises via Reg D/S/A+/CF security token offerings for corporate issuers seeking tokenized capital formation.

Product overview

INX offers a unified regulated platform for trading digital assets and securities. The core product is the INX One Platform, which combines cryptocurrency trading (via INX Digital, Inc.), security token services (via INX Securities, LLC as an ATS), and tokenized real-world assets. The ecosystem includes Republic Note (a dividend-eligible security token linked to Republic's portfolio), Republic Wallet (multi-chain wallet), the INX Token (utility token from a US$84 million IPO), and INX Transfer Agent. The platform enables 24/7 blockchain-based trading across cryptocurrencies, tokenized securities, commodities, real estate, and other RWAs, with self-custody options and regulated broker-dealer/ATS infrastructure.

Differentiator

Problem solved

Functional benefit

Brands

• INX.One: The world's first regulated RWA (Real World Asset) exchange platform for trading security tokens and digital assets.
• INX Token

Products and services

• INX One Platform Unified trading platform combining cryptocurrency, stablecoin, and tokenized real-world asset trading with 24/7 blockchain-based markets, self-custody, fiat/crypto/stablecoin funding, and access to tokenized securities (Republic Note, Animoca Brands shares, bTSLA/bNVDA/bAAPL, film/entertainment offerings). Built for retail, accredited, and sophisticated investors.
• INX Securities, LLC (Broker-Dealer / ATS) SEC-registered broker-dealer and FINRA/SIPC-member Alternative Trading System that operates an agency-only model (no principal trading) to provide secondary market trading of tokenized securities and primary capital raise services for issuers. For institutional and corporate clients conducting regulated securities offerings.
• INX Digital, Inc. (Cryptocurrency Services) FinCEN-registered money transmitter (NMLS #2094630) licensed in 48 U.S. states/territories that operates cryptocurrency trading, hosted wallets, and fiat-to-crypto conversion services on the INX One platform. For retail and institutional customers seeking compliant digital-asset exchange.
• Republic Note Dividend-eligible security token that gives investors exposure to Republic's venture portfolio of 750+ ventures through a single tokenized instrument tradable on the INX platform.
• Republic Wallet Multichain digital wallet with passkey login and optional seed phrase that connects to INX's licensed security token trading platform for compliant investing across web and mobile.
• INX Token INX's native digital token issued via a landmark 2017 initial public token offering (the first SEC-registered blockchain IPO), conferring token holder rights including a share in distributable amounts from the company's Adjusted Operating Cash Flow.
• INX Transfer Agent, LLC Wholly-owned subsidiary providing regulated transfer agent services for security tokens, sitting alongside INX Securities' broker-dealer and ATS functions to deliver end-to-end infrastructure for tokenized securities.

Quantifiable outcome

• Up to 90% reduction in payment processing costs for trucking B2B payments via PYUSD stablecoin on INX exchange vs. traditional invoicing
• +3 more outcomes

Named customers5 records

Segments4 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

Feature5 records

Partnerships

Four partnerships are on record, tiered core and minor.

• Republic (Acquisition Transaction)coreStrategic or Co-development Partner · 10 November 2025The INX Digital Company, Inc. successfully closed its transaction with Republic (OpenDeal Inc.) on November 10, 2025. INX became a subsidiary of OpenDeal Inc. (d/b/a Republic). The transaction was approved by INX shareholders and FINRA, with $10M deposited in escrow. This combines INX's regulated ATS and broker-dealer infrastructure with Republic's platform network and 3M member community.
• GRADE Alliance (Global Regulated Asset & Digital Exchange Alliance)minorStrategic or Co-development Partner · 18 June 2025A group of digital asset venues launched GRADE to harmonize cross-jurisdiction listings for tokenized securities, standardize information flows, and streamline processes across multiple venues to reduce redundancy and increase efficiency. INX participates as a founding member, creating a global 'passport' framework for tokenized securities.
• Muriel Siebert & Co. (Siebert Financial Corp.)coreGTM or Marketing Partner · 7 August 2024Referral agreement between INX Securities, LLC and Muriel Siebert & Co. for introduction of On-Chain Real World Asset (RWA) projects. Siebert's extensive network of clients and potential issuers connects with INX's marketplace for primary issuance and secondary trading of RWAs. Collaboration targets high-profile sectors including entertainment, sports, and global sports franchises. Siebert (NASDAQ: SIEB) is a diversified financial services company and NYSE member since 1967.
• Republic (OpenDeal Inc.)coreStrategic or Co-development Partner · 22 July 2024Expanded strategic partnership where INX refers prospective securities issuers to Republic for initial offerings, earning commissions from Republic revenues. Securities may then list and trade on INX's platform. Notable success: Watford FC tokenized 10% of shares through Republic with INX facilitation. INX introduced Watford FC to Republic, demonstrating seamless issuer-to-trading pipeline. Both companies are actively exploring further integration of services and operations, with INX receiving compensation for successful introductions to Republic's platform. INX is a subsidiary of OpenDeal Inc. (d/b/a Republic).

Scale indicators9 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• OSL Group: Hong Kong-headquartered, publicly listed regulated digital asset platform offering brokerage, exchange, and custody services across multiple jurisdictions. Comparable to INX as a regulated digital asset trading venue with institutional-grade compliance infrastructure.
• Prometheum: SEC-registered broker-dealer and ATS specializing in digital asset securities, with similar regulatory positioning to INX Securities. Direct comparable in operating a regulated venue for tokenized securities under SEC/FINRA oversight.
• Securitize: Leading tokenization platform for issuing and managing regulated digital securities, comparable to INX's primary-raise and security-token ATS services. Direct overlap in targeting issuers seeking compliant secondary markets for tokenized securities.
• Bakkt: Public digital asset platform offering institutional and retail trading with regulated US infrastructure. Comparable to INX in operating a regulated venue spanning crypto and tokenized assets, and similarly focused on enterprise and institutional clients.
• tZERO: SEC-regulated broker-dealer and ATS focused on security token trading — historically the most direct regulated competitor to INX Securities for tokenized securities secondary trading, serving similar institutional and retail clients.
• Robinhood: Retail brokerage with significant cryptocurrency trading operations and a long-term-investor, no-leverage positioning similar to INX's stated philosophy. Comparable target customer (retail individual investors) and overlapping asset catalog across major cryptocurrencies.
• Gemini: New York-regulated crypto exchange and custodian operated by Cameron and Tyler Winklevoss, with similar emphasis on compliance, retail trading, and institutional custody. Comparable to INX on regulatory positioning and long-term-investor target segment.
• Coinbase: Largest US-regulated centralized crypto exchange offering spot trading across a broad asset catalog. Directly comparable to INX as a regulated retail crypto brokerage with overlapping asset coverage (BTC, ETH, stablecoins, DeFi tokens) and increasingly competing in tokenized securities/RWA offerings.
• Kraken: Major global crypto exchange offering spot trading of cryptocurrencies and stablecoins with regulated US operations. Directly overlaps INX's core spot exchange offering across the same retail asset classes.

Broad incumbents

• Republic: INX's parent company since November 2025. While Republic is now the holding company rather than a pure peer, it operates private-market investing platforms that compete with INX's primary-raise services and distribute to the same retail investor base that INX serves.

Market position

Strengths5 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/INX_Group
• YouTubeyoutube.com/channel/UCgk9PJ_3NvCA-dIJ5PXNJeg
• Facebookfacebook.com/INXLtd
• LinkedInlinkedin.com/company/theinxdigitalcompany

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Subsidiaries4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about INX