Gibraltar-based crypto firm, Valereum, is on track to purchase the Gibraltar Stock Exchange (GSX). The company has recently signed an option to purchase 80 per cent of GSX.
If this is given the green light by regulators, Valerian claims that it will establish the world’s first fully regulated integrated fiat and digital exchange. On the exchange, investors could buy securities using Bitcoin, Ethereum and Dogecoin as well as a number of other stablecoins.
Richard Poulden, Chairman of Valereum, has said that “Gibraltar is a great place for this world first integrated exchange due to the fact it uses English language, it has a good legal structure and has a robust regulatory environment to European standards.”
Poulden added, “This is a very exciting opportunity for investors as they will be able to use crypto to invest in fiat securities in a fully regulated environment for the first time.”
No further details of the purchase have been disclosed. Valereum has said that the full details will remain confidential, as with many exchange agreements. This deal represents the next stage in the evolution of digital assets becoming globally accepted. It will also help to bring crypto closer to the mainstream and opens it up to be used in other transactions.
The GSX will encourage the next generation to see Gibraltar as a ‘virtual node’ in digital trade. Poulden said, “In time we will seek an international listing for the GSX itself as we see this as a compelling investment proposition.”
If the deal does fall through, the current GSX owner will retain a 20 percent share. The chief executive of the stock exchange firm said, “We welcome Valereum’s option to acquire an 80 per cent stake in the GSX and we look forward to contributing towards Valereum’s goals.”
According to Ollie Leech, Coindesk Learn Editor, “Gibraltar has already established itself as a fintech hub, as is widely considered a jurisdiction of choice for crypto-based businesses too.”
Adding, “If Valereum Blockchain wins approval from the GFSC to purchase the Gibraltar Stock Exchange, it would mark a huge moment in history for the digital asset industry.ot only will it serve to bridge the gap between traditional and digital finance, but also add further legitimacy to the crypto market.”
