Republic has selected Avalanche as the blockchain to introduce its profit-sharing digital asset, the Republic Note, marking a significant step forward in its goal to democratize private market investment. Due to its scalability, speed, and customization capabilities, Republic chose Avalanche, and for the next year, it intends to extend its presence to a dedicated Subnet.
The Republic Note, which is accessible to retail investors worldwide at low minimums, collects earnings from Republic’s portfolio of more than 750 private assets and transfers them in stablecoins to users’ digital wallets. Thousands of private investors and institutional entities have contributed over $30 million to the Republic Note’s pre-sale.
Republic was established in 2016 and has since made it possible for its worldwide community of more than 3 million members to invest more than $2.6 billion in a variety of privately owned businesses, such as Axiom Space, Dapper Labs, and Carta. In 2018, Republic declared its intention to develop the Republic Note, a digital asset supported by Republic’s portfolio, with the aim of expanding access to these rapidly expanding enterprises.
Leading the way in tokenization innovation are Republic and Ava Labs, which provides software for the Avalanche network. This is a sector that is expected to grow to several trillions of dollars this decade. Tokenization has the potential to democratize access to assets while lowering costs, enhancing transparency, and boosting efficiency across the asset management lifecycle when paired with blockchain and smart contract logic. Digitizing the world’s assets is still Ava Labs’ aim, even in the midst of the expanding tokenized asset economy on Avalanche.
Avalanche’s September 2020 debut signalled the beginning of a new age for blockchains with almost instantaneous transaction finality. With 1,400+ validators, hundreds of apps, and hundreds of millions of dollars in value, Avalanche has a negligible influence on the environment today.
Andrew Durgee, Republic’s President, expressed his excitement about the Avalanche launch:
“With Avalanche, the Republic Note is getting the foundation it needs to reach and scale with a global audience of investors. Choosing Avalanche goes far beyond the network’s strength, scale, and speed—it solidifies our longstanding partnership with Ava Labs, built on a shared vision of more inclusive financial markets.”
Adding to the sentiment, John Wu, President of Ava Labs, stated:
“Avalanche is the ideal platform to support the Republic Note’s exciting launch. Ava Labs’ collaboration with Republic showcases mutual commitment to developing innovative digital financial products. We are excited for a wider range of investors to have the chance to choose from new opportunities and anticipate a transformative era on the horizon for groundbreaking digital assets.”
Visit republic.com/note for more information on the Republic Note and its impending listing.
Source: https://thenewscrypto.com/republic-chooses-avalanche-for-launching-native-profit-sharing-digital-asset/