Republic Note, a digital asset that aims to generate returns for purchasers from successful securities offerings, was revealed to the public in 2020. While it has taken some time for the security to come to fruition, Republic distributed an update this past week that provides more information on what investors may expect.
According to an email from Republic, Note currently holds $956,770 in its dividend pool, tracking 819 different assets.
Note is expected to soon list on INX (NEO: INXD, INXATS: INX, OTCQB: INXDF), a digital asset exchange. Republic announced a partnership with INX, a digital securities platform. INX is also a FINRA-regulated broker-dealer, ATS (alternative trading system), and transfer agent. Republic invested $5.25 million in INX, taking a 9.5% equity stake in the firm at a pre-money valuation of $50 million. Republic says Note is in an “active pre-listing phase.” Liquidity for the digital asset is key for the viability of the investments as investors need a path to capture gains – or book losses. Republic said it intends to distribute Note into digital wallets prior to the listing.
Republic commented on the fund-like vehicle:
“We’re working to give you access to the detailed information about the asset pool’s status and dynamics. You can anticipate receiving detailed quarterly reports, along with smaller monthly updates. We appreciate your patience as this endeavor demands a high degree of precision, which is particularly difficult in the often unstructured private markets.”
Republic foreshadowed more news, stating they are “in the midst of a significant partnership in the making, setting up numerous benefits and utilities for Note holders.”
Republic commented on the challenges of being at the vanguard of digital securities:
“The listing of a digital security is one of the most complex and uncharted integration processes one can imagine — it currently takes 5 multi-discipline dedicated teams working in sync across 4 different organizations, so we appreciate your patience!”
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