Republic, an investment crowdfunding platform that also participates in initial coin offerings (ICOs), had a couple interesting news items this week.
First of all, its Coinvest offer sold out almost immediately – before Republic could even shoot an email out to its wider audience..
Coinvest filed their Form C (Reg CF) with the SEC on May 18th with an offering deadline of July 29th but the crypto company didn’t need to worry about not having enough time to fill the offer as it appears that it closed just three days later at the $1.07 million cap.
We are ecstatic to announce that our offering with @RepublicCrypto has successfully closed. We would like to welcome the 600+ investors to the Coinvest family and invite those that couldn’t participate to our future exchange listings. Look forward to our upcoming product update! https://t.co/QlzyiaVDys
— Coinvest (@CoinvestHQ) May 22, 2018
Coinvest is a startup that seeks to create a simplified platform for crypto investors to easily invest in digital assets including indexes – all with a single wallet and coin. As crypto goes mainstream, Coinvest wants to make it easier for a wider audience to participate in this emerging sector of finance.
Coinvest states:
“Democratizing cryptocurrencies and bringing it to the masses by creating decentralized tools for the world to seamlessly invest and spend cryptonized assets.”
The offering circular for Coinvest is available here.
On another note, Republic has partnered up with OpenFinance Network to provide trading in securities at some point in the future. OpenFinance already lists several security tokens and their partnership with Republic (and others) will see more. Republic shares;
“… we hope to offer options for Crowd Safe and Token DPA holders to sell and trade their securities, legally, prior to conversion events.”
OpenFinance explains their vision;
“With the emergence of “crypto” alt assets and the industry shift towards a ledger based book-entry process, the need for standardization and interoperability with alternative assets is greater than ever. Our system is designed for traditional alternative assets and token-based securities, and allows for a streamlined compliant process from issuance to secondary market trading. Direct integrations with financial institutions such as broker-dealers, custodians and transfer agents provide a bridge to the on-chain crypto capital markets.”
This partnership may effectively manage a pain point of private offerings – the ability to provide liquidity to early investors minus a merger / acquisition or listing on a public market. It is inevitable that all securities will migrate to a DLT powered environment going forward. Better to get ahead of this curve.