Valereum, a blockchain company, announced Friday that it would purchase 90% of the Gibraltar Stock Exchange’s (GSX), to create the first bourse in the world where shares and cryptoassets are traded.
Valereum, which is listed on London’s Aquis Exchange said that it will need to be approved by Gibraltar regulators in order to permit listed instruments on the GSX to access a regulated pool crypto capital.
It did not quote a price for the transaction.
Valereum stated in a statement that the GSX would be the first global exchange to establish a seamless, fully regulated bridge linking the crypto and fiat markets.
“This will allow listed instruments on the GSX to access a regulated pool crypto capital that isn’t available elsewhere, and it will allow cryptocurrency holders to have a direct, verifiable hold in fiat securities.”
Last November, Valereum disclosed that it had signed an option for up to 80% ownership of GSX. This option must be approved by the Gibraltar Financial Services Commission. Friday’s announcement brings the holding up to 90%.
To bridge the gap between crypto and fiat currencies, Valereum purchased Juno’s trusts and services group, Juno.
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