Republic | Crypto

Bitget’s IPO Prime will debut with preSPAX, a Republic-issued token tied to SpaceX’s post-IPO performance rather than direct ownership of the company’s shares. Cryptocurrency exchange Bitget has launched IPO Prime, a proxy offering tied to the pre-initial public offering (IPO) phase of Elon Musk’s aerospace manufacturing and space transportation company, SpaceX. Bitget said Friday that IPO Prime will start with preSPAX, a Republic-issued token designed to give retail users economic exposure tied to SpaceX’s post-IPO performance. The exchange said the product does not give buyers direct ownership of SpaceX shares, and that SpaceX has not endorsed, approved or authorized the offering. The launch highlights how crypto exchanges are bringing more traditional investment products onto blockchain rails in a bid to attract users with round-the-clock access to assets that have historically been harder for retail investors to reach. Read more

Republic Technologies secured a zero-interest convertible loan to expand its Ether holdings, a structure that could limit shareholder dilution. Republic Technologies, formerly known as Beyond Medical Technologies before transitioning into blockchain infrastructure, has secured a $100 million convertible note facility to expand its Ether holdings — a move the company said will enable it to grow its ETH treasury with minimal shareholder dilution due to favorable financing terms. The financing comes with unusual terms for a crypto-related company: a 0% interest rate, no ongoing interest payments and no requirement to post additional collateral if the price of Ether (ETH) falls, the company announced Monday. These features mean Republic does not have to spend cash servicing the debt and cannot default for failing to make interest payments — a common issue for highly leveraged digital-asset companies. Read more

Key Takeaways: Republic will sell tokens linked to the performance of SpaceX private shares. Tokens do not confer ownership or financial disclosures. Investors can participate with as little as $50, capped at $5,000. Investment platform Republic will begin selling digital tokens that mirror the performance of SpaceX’s private shares, according to a report published on […] The post Republic to Tokenize SpaceX Shares, Opening Access to Retail Investors appeared first on Cryptonews.