Republic, a retail investment platform finished a $12 million financing to tokenize its platform and launch its own security token, directed by Binance Lab and NGC ECO Fund. The financing round was also promoted by ZK Capital, Oyster Ventures, FBG Capital, Hazoor Capital, East Chain, Zhen Fund and others.
Republic highlighted its principal tenets of partnership, compliance and fair access as key to the growing global crypto investing ecosystem.
Kendrick Nguyen, CEO of Republic noted the company’s aim is to become the main marketplace for private investing, and its mission is to improve diverse participation in all types of entrepreneurship. He noted the global “crypto fever” has initiated the company’s mission, and that global collaboration is required to address prior difficulties and permit the crypto industry to increase maturely and fast.
Republic began to provide token sales late 2017 to qualified and non-qualified investors. Several crypto projects have been promoted by ten of thousands of investors across the world.
The platform is now planning to tokenize all financial products, and it hopes to use its tokens to offer economic rights including functional uses.
Ella Zhang, head of Binance Labs, noted Republic offers new possibilities to be involved in startups. Republic’s “democratization of access” to investing in startups is similar to Binance Labs’ values.
NEO Global Capital’s Tony Gu noted Republic has created a track record for selecting credible projects and preserving a transparent process with its regulations. Transparency and compliance are key to the mainstream adoption of blockchain technologies and crypto assets, he noted.
Oyster Ventures’ Sophie Liao praised Republic’s determination in adopting crypto to develop the ICO economy.