Republic, an online investment platform, recently listed a securities offering for shares in Watford FC – a professional football club in the UK. The share offering is also being listed on its subsidiary Seedrs.
In an X today, Republic said that investors may now purchase shares in either USDC or USDT.
USDT is a dollar-based stablecoin issued by Tether. USDT is the third most popular crypto by market cap, following Bitcoin and Ethereum, which now stands at around $113 billion.
USDC is a dollar-based stablecoin issued by Circle. With a market cap of around $32.5 billion, USDC is the sixth largest crypto by market cap and the second most popular stablecoin in the world.
The Watford offering indicates that over $5.56 million has been raised “on and off” Republic at the same terms. The pre-money valuation of the offering has been set at £175 million.
While most stablecoin utilization is used for on/off ramps for crypto trading, insiders see a future where regulated stablecoins are the new rails to enable value transfer – safe, secure, and at little cost per transfer.
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