On June 25, 2025, global fintech platform Republic, headquartered in New York, announced the launch of Mirror Tokens — an innovative investment product that opens access to the financial upside of some of the world’s largest private companies, including SpaceX, Figma, and Anthropic, for a broad base of investors.
What Are Mirror Tokens?
Mirror Tokens are digital assets issued by RepublicX LLC, designed to mirror the economic performance of specific private companies. While they don’t grant equity ownership or shareholder rights, these tokens allow investors to earn payouts equivalent to the value appreciation of a company’s shares if a so-called “liquidity event” occurs, such as an IPO, direct listing, or acquisition.
The First Token: rSpaceX
The first in the Mirror Tokens lineup is rSpaceX, a token pegged to the value of SpaceX shares — currently the most valuable private company in the world with a $350 billion valuation as of the end of 2024. Investors from around the world can participate, with minimum investments starting at just $50 and a maximum of $5,000 to promote accessibility and broad participation. Purchases can be made via Apple Pay or in stablecoins.
How Does It Work?
1. Investors purchase Mirror Tokens (like rSpaceX) at prices based on publicly available valuation data for the target company.
2. If a liquidity event takes place — IPO, acquisition, or direct listing — token holders receive payouts reflecting the change in share value since the token purchase, including any applicable dividends.
3. Tokens are issued on the Solana blockchain, ensuring fast transactions, low fees, and scalability.
4. After a 12-month lock-up period, the tokens are expected to become tradable on a regulated secondary market, following Republic’s planned acquisition of INX, a platform built for compliant trading of digital assets and securities.
Why Does It Matter?
Historically, investing in private companies like SpaceX has been off-limits to 99% of people due to strict accredited investor rules in the U.S. Republic is leveraging its fintech expertise and regulatory licenses to, for the first time, offer everyday investors worldwide a chance to participate in the economic growth of leading private startups.
rSpaceX is just the beginning. Republic plans to roll out similar tokens linked to companies like xAI, Ramp, Cursor, Perplexity, and about 20 other private firms soon.
“This is a major step toward making private markets more accessible and liquid on a global scale. By combining regulation with blockchain innovation, we’re opening the door to a future where anyone can invest in the companies shaping our world,” said Kendrick Nguyen, founder of Republic.
Of course, there are risks and limitations:
– Mirror Tokens do not guarantee returns and are not government-insured.
– Investment availability varies by country, depending on local regulations.
– Tokens do not grant ownership or governance rights in the target companies.
Conclusion
Republic’s launch of Mirror Tokens marks a breakthrough in democratizing access to the world’s top private companies. Thanks to its innovative structure and blockchain integration, virtually anyone can now gain financial exposure to the success of giants like SpaceX, starting from just $50.
