Gibraltar Stock Exchange to Accept Crypto Under New Ownership

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Valereum’s plan is to allow the purchase of publicly traded fiat debt and equity instruments with cryptocurrencies that meet full AML requirements.

Valereum Blockchain has signed an option to buy 80% of the Gibraltar Stock Exchange, leaving the remaining 20% ​​to the current owner (Global Stock Exchange Group).

The exercise of the Option and the acquisition of 80% of the GSX are subject to the approval of Gibraltar’s financial supervisory body, GFSC.

If the deal goes through, Valereum will appoint directors to the GSX board, subject to regulatory approval. Valereum also holds an option on 20% of the Global Stock Exchange Group.

Valereum is a Gibraltar-based blockchain technology group that plans to own GSX in order to establish the exchange, the world’s first fully regulated and integrated fiat and digital exchange.

GSX is configured to allow the purchase of fiat debt and equity instruments with cryptocurrencies that meet full AML requirements. The operator will accept all major cryptocurrencies including Bitcoin, Dogecoin, Cardano, Ethereum, and Tether.

As a regulated bridge that connects the fiat and crypto markets, GSX will provide listed instruments with access to a regulated pool of crypto capital that the company says is not available anywhere else.

Cryptocurrency holders will have the opportunity to have a direct and verifiable stake in fiat securities, while using trading technology from established and updated providers with full front-to-clearing and trading functionality. back.

Richard Poulden, President of Valereum, said: “This agreement represents the next step in the evolution of digital assets becoming globally accepted and tradable.

“This brings crypto closer to the mainstream and opens it up for use 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 commerce.

James Levy, CBE, QC, Senior Partner at Hassans International Law Firm in Gibraltar, said: “Hassans is very proud to act for Valereum in this very exciting development for Gibraltar as it has many advantages and puts our jurisdiction at the forefront. of the digital world. The new stock exchange expands the territory as a financial center giving it a global footprint and will create an improved financial services industry in Gibraltar. “

Nick Cowan, CEO of GSX and The GSX Group, said: “We have made GSX an attractive destination for blue chip issuers and have to date admitted over 2,500 securities totaling nearly US $ 5 billion. We welcome Valereum’s option to acquire an 80% stake in GSX and look forward to contributing to Valereum’s goals.

GSX obtained a DLT license from the Gibraltar regulator in 2018.

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