Valereum Blockchain Plans to Acquire 80% Stake in GSXOctober 25, 2021
Valereum Blockchain, a prominent blockchain technology group based in Gibraltar, announced the signing of an option to acquire an 80% stake in the Gibraltar Stock Exchange (GSX) today. The mentioned acquisition is subject to approval by the Gibraltar Financial Services Commission (GFSC).
The financial details of the planned acquisition were not disclosed. The Global Stock Exchange Group, the current owner of the GSX, will retain the remaining 20% in shareholdings. Valereum is planning to establish the Gibraltar Stock Exchange as the world’s first fully regulated integrated fiat and digital exchange.
“This deal represents the next stage in the evolution of digital assets becoming globally accepted and tradeable. It brings crypto closer to the mainstream and opens it up to be used in transactions with other asset classes. Just as The Rock of Gibraltar has been a physical port for centuries, GSX will encourage the next generation of digital assets to see Gibraltar as a virtual node in digital trade,” Richard Poulden, Chairman of Valereum, commented on the latest announcement.
Gibraltar is one of the fastest-growing crypto regions in the world. The adoption of blockchain technology and digital assets in the country has increased sharply in the past few months.
Crypto and Fiat
According to Valereum, GSX will be the first exchange in the world to create a seamless and fully regulated bridge that links the fiat and crypto markets. Valereum believes that the integration will facilitate crypto holders in portfolio diversification.
“We have grown GSX into an attractive destination for high-grade issuers and have to date admitted over 2,500 securities totaling almost US$5 billion in value. We welcome Valereum’s option to acquire an 80% stake in the GSX, and we look forward to contributing towards Valereum’s goals,” Nick Cowan, CEO of both the GSX and the GSX Group, said.
The company termed the recent announcement as a major step towards the global adoption of digital assets.
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