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Republic has launched tokenized equity of Animoca Brands on Solana, making the tokens available for trading through Republic's secondary marketplace. The underlying book-entry ordinary shares of Animoca Brands are custodied by BitGo Bank & Trust, while securities transactions are facilitated through INX Securities, LLC — an SEC-registered broker-dealer, FINRA/SIPC member and operator of an Alternative Trading System. The launch follows Republic's September 2025 announcement that it planned to tokenize Animoca Brands equity on Solana, which described Animoca Brands shares as unlisted and traditionally accessible through over-the-counter secondary markets. Animoca Brands has been an unlisted public company since its removal from the Australian Securities Exchange's official list in March 2020.
The structure routes tokenized equity through regulated securities infrastructure
The Republic tokenized equity structure is notable because it uses regulated securities-market infrastructure rather than only a blockchain issuance layer. Tokenized Animoca Brands equity is traded through the INX ATS, with access subject to jurisdictional eligibility, KYC/AML checks and applicable regulatory restrictions. INX Securities' own relationship summary confirms it is registered as a broker-dealer, is a FINRA/SIPC member and operates an ATS for secondary-market trading in certain OTC securities. BitGo Bank & Trust, the custodian, is a national banking association authorized by the Office of the Comptroller of the Currency to exercise fiduciary and custodial powers. This layering — OCC-chartered custodian, SEC-registered broker-dealer, FINRA-member ATS, Solana-based tokens — means the tokenized equity sits inside conventional securities plumbing while the ownership record and transferability run on-chain.
Tokenization is optional for existing shareholders and does not change ownership
Republic's Animoca shareholder page says tokenization is optional for existing shareholders, does not change ownership, requires identity verification and may involve transfer documents requiring physical signatures. The affected parties are existing Animoca Brands shareholders who choose to tokenize their holdings, eligible investors using Republic's secondary marketplace, INX Securities as the ATS operator, BitGo Bank & Trust as custodian, and regulators supervising broker-dealer, ATS and custody activity. The public materials reviewed do not disclose initial trading volume, participating shareholder numbers, token contract details, the full list of excluded jurisdictions or the securities-law exemption used for the transactions. In practice, Republic is providing a process for eligible shareholders to convert their Animoca Brands equity record into Solana-based tokens and for eligible investors to trade those tokens through a regulated secondary-market structure — bringing on-chain liquidity to what was previously an OTC-only private equity position.
FAQ
How does Republic's tokenized Animoca Brands equity work? Republic enables eligible Animoca Brands shareholders to convert their book-entry ordinary shares into Solana-based tokens. The underlying shares are custodied by BitGo Bank & Trust, an OCC-chartered national banking association. Trading occurs through INX Securities' Alternative Trading System, an SEC-registered broker-dealer and FINRA/SIPC member. Tokenization is optional and does not change ownership.
Can anyone buy tokenized Animoca Brands equity on Republic? Access is subject to jurisdictional eligibility, KYC/AML checks and applicable regulatory restrictions. The full list of excluded jurisdictions has not been disclosed publicly.
Why is the Animoca Brands tokenization on Solana significant? Animoca Brands has been unlisted since its removal from the Australian Securities Exchange in March 2020, with shares traditionally accessible only through OTC secondary markets. Tokenization on Solana through regulated ATS infrastructure provides a new secondary trading channel for an asset that previously had limited liquidity options.
