Republic introduces its self-custody digital wallet

abdelaziz Fathi

Financial services company Republic has introduced its self-custody digital wallet, Republic Wallet, to its global community of over three million members. The new product will be integrated into Republic’s retail crypto investing platform to simplify crypto management for users, eliminating the need for third-party wallets.

Republic Wallet

With Republic’s multi-chain, multisignature wallet, users can manage their crypto holdings and participate in token drops through a unified interface. The wallet has been designed to support various blockchains, ensuring compatibility with a broad range of digital assets. It currently supports Ethereum, Circle’s USDC, and Algorand, with plans to add compatibility for Bitcoin, Avalanche, Polygon, and more in the future.

Republic’s platform offers more than just digital assets; it also enables investments in tokenized securities and real-world assets like art and real estate. With the new wallet, users can jump into investing, trade, and handle Republic’s bunch of investment offerings, like tokenized securities and real-world assets.

Specifically, Republic Wallet serves as a central hub for participating in token offerings on the Republic platform. It streamlines the process of receiving and securely storing digital assets without the hassle of dealing with other wallets.

Andrew Durgee, Head of Republic Crypto, highlighted that tokenization makes investments in private assets more accessible and less opaque.

“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,” he added.

For those using Republic’s services, the newly-launched digital wallet will eventually support staking and reward earnings through the company’s validators on various blockchain networks. The wallet is designed with security in mind, employing both multi-signature technology and planning to integrate multi-party computation (MPC) for enhanced security in the future.

To ensure the highest level of security, Republic Wallet underwent rigorous testing by Quantstamp, a firm specializing in smart contract auditing.

Republic Wallet also prioritizes user experience, boasting an intuitive interface accessible to users regardless of their familiarity with cryptocurrencies.

Republic’s strategic roadmap for the wallet extends beyond its launch. Initially, the wallet will serve Republic Note holders, providing them with a secure platform to receive and manage their digital assets. Future plans involve incorporating staking rewards and secondary market trading functionality within the wallet interface.

Read this next

blockdag

Top Crypto Highlights for Q2 2024: BlockDAG’s Astonishing 1120% Growth Compared to Solana’s Surge and Toncoin’s Market Triumph

Explore the latest highlights in cryptocurrency: Solana’s recovery, Toncoin’s record levels, and the rise of BlockDAG’s innovative technology.

Digital Assets

Ripple seeks $10 million penalty citing Terraform fine in SEC case

Ripple Labs wants to reduce the financial penalties proposed by the U.S. Securities and Exchange Commission (SEC) by leveraging recent fines imposed on Terraform Labs.

Digital Assets

Swiss regulator shuts down CoinShares’ partially-owned FlowBank

Switzerland’s financial regulator, FINMA, has closed FlowBank SA and placed it into bankruptcy due to severe breaches of capital requirements and other supervisory laws. This follows a series of enforcement actions against the bank that began in October 2021.

blockdag

Presale Power Players: 5 Crypto Presales Primed for Success in 2024 According to Experts

Unlock the potential of the best presale cryptos available now. See why experts recommend BlockDAG, Bitbot, eTukTuk, 99Bitcoins Token, and ButtChain.

Executive Moves

Paxos axes 65 jobs, cuts headcount to below 300

Stablecoin issuer Paxos has laid off 65 employees, equating to 20% of its staff, despite maintaining a robust financial standing.

Institutional FX

US sanctions trigger major shifts in Russian FX market, says Sergey Romanchuk

The U.S. sanctions imposed on June 12 against the Moscow Exchange and its clearing entity, the National Clearing Center (NCC), are set to cause massive disruptions in the Russian currency market, according to FX industry veteran Sergey Romanchuk.

blockdag

BlockDAG’s X1 Miner App Beta Sparks $49.2M Presale Rise; Uniswap & XRP Whales Getting Involved?

Experience BlockDAG’s meteoric 1120% presale rise, Uniswap’s UNI climbing 18%, and Ripple’s XRP anticipating ETF approval. Explore their latest breakthroughs!

Market News, Tech and Fundamental, Technical Analysis

GBPUSD Technical Analysis Report 13 June, 2024

GBPUSD currency pair can be expected to fall further toward the next support level 1.2700, which has been reversing the price from last month.

Institutional FX

U.S. sanctions halt dollar and euro trading on Moscow Exchange

New U.S. sanctions against Russia have led to the immediate suspension of trading in dollars and euros on the Moscow Exchange (MOEX), the country’s largest exchange group.

<