Republic, an online investment platform, has announced its acquisition of GoldenChain, the digital asset subsidiary of GoldenTree Asset Management.
The terms of the deal were not immediately available.
GoldenTree, which manages over $53 billion in institutional funds, is a global asset management firm that specializes in opportunities across the credit sector such as high yield bonds, leveraged loans, private credit, distressed debt, and more.
As part of the purchase former GoldenTree partner Joe Naggar will join Republic as the new CEO of Republic Digital – a new offshoot of Republic. Naggar was previously serving as Head of Digital Assets of GoldenChain
Republic said it expects that GoldenChain will boost its position in the market. The strategic acquisition and creation of Republic Digital is described as reinforcing Republic’s commitment to staying at the forefront of the evolving digital asset landscape.
Andrew Durgee, President of Republic, called the acquisition a significant milestone for the firm.
“We are confident that the combined strengths of Republic and GoldenChain will create compelling opportunities for our investors.”
Republic started its existence as a FINRA regulated Funding Portal but has grown to become the largest online investment platform in the world providing a diversified portfolio of services. To date, Republic has raised over $3 billion throughout the company, serving individual investors, HNW individuals and institutional participants.
Republic recently announced a partnership with a real estate firm in the Middle East while revealing its intent to expand further in the region. Its acquisition of UK-based Seedrs provided a key entry into the European market for online capital formation.
