Republic, which develops technology services and acts as an investment platform, announced that it will produce a digital asset on the Algorand blockchain.
Sharing Algorand’s vision of creating a decentralized asset that is easily accessible to everyone, Republic has made history as the first firm to roll up its sleeves for new generation asset classes.
With its crowdfunding methodology, Republic, which has managed to collect $ 67.5 million investments for 170 startups, is now one of the biggest players in the private investment sector with more than 500,000 members. Republic is expected to undertake much larger investments in crowdfunding and private investment through its cooperation with Algorand.
Republic Co-Founder Kendrick Nguyen made the following remarks on the subject:
“Algorand’s technology offers extremely strategic value and support for the Republic Ecosystem. We are excited to develop a dynamic digital presence with Algorand’s advanced blockchain technology. ”
Thanks to the digital asset that Algorand and Replublic will develop together, the awareness of digital assets, a new class, will increase, and new people will also be invested. Algorand’s open-source, unauthorized, decentralized and pure Proof-of-Stake platform enables this kind of thing to be done today.
W. Sean Ford, Algorand’s COO, spoke as follows:
“We thought it was logical to make such a collaboration as the mission of finding investment with crowdfunding for the startups that the Republic firm chose by supervising was quite compatible with the economic vision that Algorand was trying to create. We think Republic will use its Algorand technology to expand its mission globally to larger audiences. ”