Republic, a retail investment platform affiliated with AngelList, announces it has closed a $12M round to finance the tokenization of the Republic platform and the development of its own security token.
The round was led by Binance Labs and NGC ECO Fund, with participation from East Chain Co, Oyster Ventures, FBG Capital, Hazoor Capital, ZK Capital, ZhenFund, and others.
Republic began curating and offering token sales in late 2017 under the brand Republic Crypto, providing compliant and fair access to both non-accredited and accredited investors.
Republic’s tokenization project aims to incentivize and engage all participants on the Republic platform with the introduction of a Republic token, which will carry functional uses as well as economic rights. It is also working on tokenizing all financial products offered on the Republic platform to enhance their liquidity and transferability.
Last year, Republic raised seed capital from a cohort of venture firms across the US, including Oyster Ventures, AngelList, RenGen, NextGen Venture Partners, and Grand Central Tech, all of whom have expressed confidence in Republic’s crypto ambition. “I am thrilled to see the platform evolve to fully utilize crypto to democratize and align incentives in the growing ICO economy,” says Sophie Liao of Oyster Ventures. “Republic is well positioned to revolutionize the whole token-pre-sale landscape.”