Republic recently completed $12 million in financing to tokenize its platform and introduce its own security token. The round was led by Binance Labs.
What is Republic all about?
Republic is a crowdfunding startups that pretty much allows anyone to be an angel investor. Yep, that’s correct. You can invest in startups on their platform for as little as $10, but this depends on the minimum that the company is willing to accept.
Republic started to offer token sales late last year to accredited and non-accredited investors. Dozens of crypto projects have been supported by tens of thousands of investors globally.
The platform is now looking to tokenize all financial products, and it plans to use its token to provide economic rights in addition to functional uses.
What problem is Republic trying to solve?
Typically to invest in any startup, you must be an accredited investor. Before Republic launched their crypto sections, they were focused on solving that problem and allowing anyone to invest as little as $10 into startups. The same way that Kickstarter allows people to back companies to help them grow.
Kendrick Nguyen, CEO of Republic, said the company’s goal is to become the main marketplace for private investing, and its mission is to enhance diverse participation in all types of entrepreneurship. He said the global “crypto fever” has jumpstarted the company’s mission, and that global collaboration is needed to address existing complexities and allow the crypto industry to expand fast and responsibly.
With the money raised, Republic is able to expand their team and focus on the crypto space.
CryptoMeNow is on a mission to make cryptocurrency easy for everyone to understand.
Our core product is our free daily newsletter where we send you need to know information about cryptocurrency that everyone can understand in less than 3 minutes a day.
Please subscribe to our newsletter and share it with your friends! You can subscribe directly at CryptoMeNow
You can also follow me on Twitter @itswilson8