Republic, the investing platform and technology services provider that enables inclusive investment access, today announced its proposed initiative to build a digital security on the Algorand blockchain. With a shared vision of inclusivity and decentralized financial opportunity for all, Republic and Algorand also value strong technical underpinnings that power next-generation offerings.
Republic’s crowdfunding and private syndication arms have raised capital for over 170 startups in just three years, facilitating ~$67.5 million of investment last year alone. In addition, with nearly 500,000 users, Republic’s platform has quickly established itself as a pioneer in the growing private investment space. Republic’s partnership with Algorand will pioneer new ways for accredited and unaccredited investors to capture the upside of Republic’s Ecosystem by providing novel exposure through the proposed security.
“Algorand provides incredible strategic value and support to the Republic Ecosystem,” says Kendrick Nguyen, Co-Founder of Republic. “We are excited to be using their cutting edge blockchain technology to enable the creation of a new dynamic digital asset.”
Republic and Algorand believe that a digital security built on the Algorand blockchain will bring excitement and energy to the digital security space, while onboarding users to the new asset class and the token ecosystem. Creating such an asset that can be widely held is made possible today by Algorand, the technology company that built and developed the world’s first open, permissionless, pure proof-of-stake blockchain protocol. With Algorand’s simplified asset creation, instant financial exchange, and immediate transaction finality, Republic is leveraging technology at the forefront of open financial innovation.
“Republic’s mechanism of allowing anyone to invest in rigorously vetted startups across an array of industry sectors demonstrates a unique approach of leveling the playing field for entrepreneurs and investors of any size,” said W. Sean Ford, COO of Algorand. “This mission is very much aligned to the Algorand platform, which is an open blockchain where anyone can participate. We look forward to seeing Republic use an advanced blockchain as they bring even broader access to their diverse community.”
