Valereum Blockchain to Purchase 80% Stake in Gibraltar Stock Exchange

Valereum Blockchain, a Gibraltar-based blockchain technology group, announced that it has signed an option to acquire 80% of the Gibraltar Stock Exchange (GSX). The acquisition is subject to approval by the Gibraltar Financial Services Commission (GFSC).

According to the press release, the Global Stock Exchange Group, the current owner of the GSX, will retain the remaining 20% in shareholdings and Valereum has an option on 20% of the Global Stock Exchange Group.

Valereum is planning to establish the Gibraltar Stock Exchange as the world’s first fully regulated integrated fiat and digital exchange. The Directors of Valereum believe that this will give listed instruments on the GSX access to a regulated pool of crypto capital that is not available anywhere else, and that it will give crypto currency holders the ability to have a direct, verifiable holding in fiat securities.

"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, said.

"We have grown GSX into an attractive destination for high grade issuers and have to date admitted over 2,500 securities totalling 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 added.