Republic is gearing up to list its profit-sharing digital asset, the Republic Note, on INX’s US-regulated trading platform. The listing, which will be done via the Avalanche blockchain, aims to make private market investments more accessible to and tradable among investors around the world.
Republic Note is a real-world asset-backed digital security that allows investors to earn returns from an investment portfolio and the listing is scheduled to occur on December 6, 2023.
According to the press release shared with CryptoPotato, Republic underscored the challenges associated with investing in most private companies, noting the limited accessibility to the broader public. The technology company also pointed out the accreditation and large investment sizes typically required for such processes.
In contrast, Republic Note is open to non-accredited investors worldwide with low minimum investment thresholds. The Note distributes dividends to holders’ digital wallets when new liquidity events take place in the Republic portfolio.
Commenting on the development, Republic’s Co-founder and CEO Kendrick Nguyen said,
“The Republic Note’s listing is not just a milestone for Republic – it represents a shift in the landscape of private equity. We believe this is the first time a digital asset backed by such a diverse portfolio of private ventures has been made available to retail investors. Owning even one Republic Note can unlock an important new level of accessibility, transparency, and liquidity to private equity.”
Leading up to the public listing, the digital asset has attracted more than $30 million in pre-sale participation from entities such as Naspers, Binance, and the Avalanche Foundation’s Vista program, along with thousands of individual investors.
The company also secured over $200 million in funding from global companies like Valor Equity Partners, Galaxy Interactive, Morgan Stanley, and AngelList, as per the official statement.
The development comes two weeks after Republic revealed its plans to introduce the digital asset on Avalanche, aiming to capitalize on the blockchain’s scalability, speed, and customizability.
Alongside INX and Ava Labs (a software provider for the Avalanche network), Republic said that it aims to be at the forefront of tokenization and believes that the market is poised to expand into the tens of trillions of dollars in this decade.
