Security Issuance Platform Republic Acquires Private Equity Platform RenGen Labs
Republic, a Reg CF securities issuance platform, has officially acquired RenGen Labs. RenGen Labs operates in the ICO/STO sector.
Republic is a crowdfunding platform which recently has taken a strong interest in the security token industry. Last year in October, we reported that the platform was planning on selling its own tokenized security. In an interview then, the CEO Kendrick Nguyen expressed strong optimism in the future of the space despite the mounting legal cases against ICOs then.
Republic is now expanding to acquire RenGen Labs, a private equity platform specializing in ICOs and STOs. The company believes that RenGen will compliment their FINRA-regulated “funding portal” which issues securities to non-accredited investors under the Reg CF securities exemption.
Last January, RenGen demonstrated that they had hosted security and security token trading totaling an excess of $130 million. RenGen was even hosting the tZERO offering, the largest STO offering to date.
The terms of the deal have yet to be disclosed, but part of the plan is for RenGen is to issue their own token to “connect investors to the value of Republic entire portfolio of investments.” More information on this should be forthcoming in the near-future.
Will Republic dominate the crowdfunding space? Will their acquisition of RenGen give them an edge? Let me know your thoughts in the comments.
Image courtesy of Republic.