Republic, a platform letting users invest in early-stage companies, announced plans to launch its own digital asset on Algorand’s blockchain.
“We are excited to be using their cutting edge blockchain technology to enable the creation of a new dynamic digital asset,” Republic co-founder Kendrick Nguyen said of Algorand in a March 17 statement provided to Cointelegraph. The asset will allow the public access to the success or failure of Republic through investment.
The digital asset will be a security, Republic associate general counsel and partner Jed Halfon confirmed to Cointelegraph via email.
Republic has seen success so far
With help from its private investor pooling branch, Republic helped early-stage projects garner approximately $67 million in funds in 2019, and has assisted in raises for more than 170 companies over the last three years, the statement said. Read More...