Republic to Build First-in-Class Digital Asset on Algorand
The private investing platform is working to build a digital security on Algorand's blockchain to give investors novel exposure to the Republic Ecosystem's future success.
NEW YORK, March 17, 2020 /PRNewswire/ -- 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."
About Republic
Founded in 2016, Republic is a private investing platform and technology services provider made up of numerous operating entities, that lets anyone invest in early stage companies. Spun out of AngelList, Republic's private investing platform features more than 500,000 users investing as little as $10 in over 170 carefully vetted companies. Republic defies industry trends by elevating the underrepresented entrepreneurs who traditionally go without access to private capital, while allowing for anyone — regardless of income or net worth — to invest in their vision of the future. With over $100,000,000 to date invested by users and a 90% funding success rate, Republic is the first private investing platform that is truly for everyone. For additional information, visit republic.co, @joinrepublic, and facebook.com/joinrepublic.
About Algorand Inc.
Algorand Inc. built the world's first open source, permissionless, pure proof-of-stake blockchain protocol for the next generation of financial products. This blockchain, the Algorand protocol, is the brainchild of Turing Award-winning cryptographer Silvio Micali. A technology company dedicated to removing friction from financial exchange, Algorand Inc. is powering the DeFi evolution by enabling the creation and exchange of value, building new financial tools and services, bringing assets on-chain and providing responsible privacy models. For more information, visit https://www.algorand.com/
Republic Block LLC dba Republic Core is conforming to the standards of testing the waters under Regulation A of the Securities Act of 1933, as amended ("the Act"). This process allows companies to determine whether there may be interest in a potential offering of its securities. Republic Core is not under any obligation to make an offering under Regulation A or otherwise. Republic Core may choose to make an offering to some, but not all, of the people who indicate an interest in investing, and that offering may or may not be made under Regulation A. For example, Republic Core may determine to proceed with an offering under Rule 506(c) of Regulation D, in which case it will offer securities only to accredited investors as defined in Rule 501(a) of Regulation D of the Act.
If and when Republic Core conducts an offering under Regulation A of the Act, it will file an offering statement with the Securities and Exchange Commission ("SEC") and not sell any securities until the SEC has qualified the offering statement and investors have subscribed to the offering in the manner provided for in the offering statement and Regulation A. The information in the offering statement will be more complete than any test-the-waters materials and could differ in important ways. You must read the offering circular contained within the offering statement filed with and qualified by the SEC. No money or other consideration is being solicited at this time and if tendered, will not be accepted. No offer to buy securities in a Regulation A offering can be accepted and no part of the purchase price can be received until an offering statement is qualified with the SEC. Any offer to buy securities may be withdrawn or revoked, without obligation or commitment of any kind, at any time before notice of its acceptance is given after the qualification date. Any indication of interest in a Republic Core offering involves no obligation or commitment of any kind.
Contact: Anastasia Golovina, [email protected]
SOURCE Algorand Foundation
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