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.
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.