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Republic, the New York City-headquartered global financial firm, announced the launch of Mirror Tokens on June 25.
Mirror Tokens are tokens whose performance is tied to those of the world’s most valuable unlisted companies, such as SpaceX.
Users can acquire these tokens with investments as little as $50 using Apple Pay or stablecoin.
“This is a big step forward on our quest to make the private markets more accessible and liquid — globally,” said Republic co-founder and CEO Kendrick Nguyen. He added:
“By combining regulation and blockchain innovation, we're unlocking a future where anyone, anywhere, can invest in the companies shaping our world.”
The first Mirror Token that Republic is offering is rSpaceX, the performance of which is tied to that of SpaceX.
The rSpaceX token will be minted on Solana, a blockchain purpose-built for tokenizing real-world assets (RWAs) at scale.
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Tokenization of RWAs refers to the process of digitally representing assets as tradable tokens on a blockchain so as to offer fractional ownership of those assets to potential investors.
The rSpaceX token provides an opportunity for retail investors across the globe to get indirect exposure to a giant like SpaceX. Typically, only institutional and high-net-worth individual (HNI) investors can afford to invest in such unicorns.
Headquartered in Texas, SpaceX is a prominent space technology company. Founder and CEO Elon Musk, the world's wealthiest person, is at the helm of SpaceX, which he turned into a $350 billion company as of Dec. 11, 2024.
Note that neither is the token officially affiliated with SpaceX nor does it offer any kind of ownership in the tech company.
Republic said it also aims to launch Mirror Tokens tied to xAI, Ramp, Cursor, Perplexity, and 20 other companies in the future.
Disclaimer: The content above is intended for informational purposes only and should not be taken as financial advice. Do your own research before investing.
