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Crypto Push by Republic Platform Sparked by New Token

  • Firm with more than 700,000 users wants to see crypto grow
  • Digital token is to be issued on Algorand blockchain July 16
  
Photographer: JUNG YEON-JE/AFP via Getty Images
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Republic, the largest private investment platform, will issue a digital profit-sharing token on the Algorand blockchain next month as more financial firms begin to embrace cryptocurrencies.

New York-based Republic, with more than 700,000 users, plans to release the token on July 16, Chief Executive Officer Kendrick Nguyen said in an interview. The token gives customers access to profit from only some of the deals done on the platform, he said.