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Valereum Buys Gibraltar Stock Exchange to Create Crypto Hub | Tech News

LONDON (Reuters) – Blockchain firm Valereum said on Friday it would buy 90% of the Gibraltar Stock Exchange (GSX) to create the world’s first exchange where stocks and crypto-assets can be traded.

Valereum, listed on London’s Aquis Exchange, said it will need approval from Gibraltar regulators to allow instruments listed on the GSX to access a regulated pool of crypto capital.

He gave no price for the transaction.

“GSX will be the first exchange in the world to create a transparent and fully regulated bridge that connects the fiat and crypto markets,” Valereum said in a statement.

“It will give instruments listed on the GSX access to a regulated pool of crypto capital that is not available anywhere else, and it will give cryptocurrency holders the opportunity to have a direct and verifiable stake in fiat securities. .”

Valereum announced last November that it had signed an option to acquire up to 80% of GSX, subject to the approval of the Gibraltar Financial Services Commission. Friday’s announcement brings participation to 90%.

Valereum acquired Gibraltar funds and fiat services group Juno in December to underpin the bridge between cryptocurrencies and fiat currencies.

(Reporting by Huw Jones, editing by Louise Heavens)

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