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New York, United States, August 17th, 2023, Chainwire
Republic, a digital finance leader, has announced the launch of its fully integrated digital wallet to its global community of more than three million members. Republic Wallet will power the ability to invest in, trade, and securely manage Republic investment offerings like tokenized securities, tokenized real-world assets, and more.
“For millions of global retail investors, investing in private assets like startups, real estate, and fine art is opaque, highly illiquid, and mostly inaccessible,” shared Andrew Durgee, Head of Republic Crypto, who recently provided testimony at a Congressional session entitled The Future of Digital Assets. “Tokenization solves all of these problems. It’s why we built Republic Wallet, a multisig, multi-chain digital wallet designed for a future where most private assets are tokenized.”
Republic Wallet is designed to sit at the heart of every Republic community member’s digital asset investment experience, with the following benefits available today:
Seamless integration: Republic Wallet serves as the hub for participating in token offerings on Republic, where digital assets can be sent directly and stored securely. By integrating Republic Wallet with the Republic product experience, investors can avoid the burdensome process of creating and managing third-party wallets to receive their assets, and view their owed (off-chain) and received (on-chain) asset balances in one unified interface.
Multi-chain capability: Considering the breadth of Republic’s investment offerings, Republic Wallet had to be optimized for flexibility. It was engineered to support multiple blockchains, an advanced capability that makes it possible to manage a variety of digital assets within a single, secure platform. Republic Wallet supports digital assets on Ethereum, Avalanche, and Algorand today, with Bitcoin, Polygon, and others coming soon.
Robust security: Republic Wallet is fortified by rigorous testing by Quantstamp, a leading smart contract auditing firm. To provide an extra layer of investor protection, Republic Wallet will be rolling out multi-party computation to optimize private key management by securely dividing, encrypting, and distributing private keys among multiple parties.
Simple design: To ensure accessibility to investors of all levels, Republic Wallet’s user experience and interface was designed to feel intuitive even to those who have never interacted with cryptocurrency before. After completing a simple onboarding flow and private key storage, users will be equipped to confidently navigate and transact from Republic Wallet.
Republic Wallet’s roadmap aims to build upon this important product within the Republic ecosystem. To start, the 5,000+ holders of the Republic Note, Republic’s digital security, will use the wallet to receive and manage their assets. In the future, Republic investors will be able to earn staking rewards by delegating their digital assets directly from Republic Wallet to the company’s validators. It will also integrate with their secondary market investing experience, making it possible for investors to efficiently trade private assets right from the Republic Wallet interface.
Powered in part by increasing private market demand from retail investors, the worldwide tokenization market could reach $24 trillion in financial assets by 2027. With this in mind, the launch of Republic Wallet signifies a key component of the company’s broader efforts to build web3-enabled products that help democratize private investing globally.
Republic is a global technology firm pioneering the digital transformation of finance. The Republic ecosystem is composed of an enterprise-focused digital merchant bank and a network of international retail investment platforms. Republic has made it possible for 3+ million community members across 150+ countries to deploy $2.5+ billion into thousands of private ventures. Backed by Valor Equity Partners, Galaxy Interactive, Morgan Stanley, Hashed, AngelList, and other leading institutions, Republic is headquartered in New York City and has established operations in the US, UK, UAE, and South Korea.