Fintech firm Republic Technologies, publicly listed under the ticker DOCT on the Canadian Securities Exchange, has secured $100 million in fresh capital from an undisclosed institutional investor. The company confirmed the fundraising to The Block, noting that the structure of the deal is unusual for the digital-asset sector.
According to the announcement, over 90% of the funds will be allocated to purchasing Ethereum, beginning with an initial $10 million tranche. The remaining capital will be deployed gradually under a structured accumulation plan.
Republic explained that the investment comes in the form of a zero-coupon convertible bond — meaning no interest payments and no margin requirements. Such terms are rare in crypto finance, where convertible instruments typically involve high coupon rates or warrant packages to compensate for risk. The deal, however, excludes discounted pricing or features that would dilute existing stakeholders.
In addition to the bond, Republic will receive warrants equal to 50% of the committed capital, priced at fair market value. The firm emphasized that the warrant structure was designed to avoid pressure on other issuers in the market — a point highlighted by The Block.
Republic operates a large Ethereum validator infrastructure, treating ETH as both a treasury reserve asset and a revenue generator through staking and block attestation. The company said its strategy — developed alongside QCP Capital — has historically produced an average of 1.75% weekly returns from staking-related activities.
The raise comes amid renewed signals of institutional interest in Ethereum. Earlier, analysts at CryptoQuant noted growing inflows from professional investors, reversing months of muted activity in the ETH market.
