Valereum acquires Gibraltar-based Juno to expand its crypto-fiat bridge

[ad_1]

Gibraltar-based technology group Valereum Blockchain has announced the acquisition of Juno Group, a company that helps establish and administer trusts, manage funds and start businesses in Gibraltar.

Juno is a company that Valereum describes as having three licensed areas of activity: the management of trusts and similar entities, the administration of liquidity for a range of activities, including fiat and cryptocurrency transactions, and the incorporation and management of companies in Gibraltar and other countries around the world.

The deal is a step towards creating a fully regulated link between the fiat and crypto worlds, according to the press release, which complements Valereum’s work with the Gibraltar Stock Exchange (GSX).

In October 2021, Valereum revealed its intention to acquire the Gibraltar Stock Exchange, a regulated exchange that has sought to distinguish itself by pursuing regulated digital assets.

Regulators on the Peninsula are currently evaluating Valereum’s offer to acquire the exchange in the new year, which could lead to the world’s first integrated exchange where common bonds can be traded alongside major cryptocurrencies like Bitcoin (BTC) and Dogecoin (DOGE).

Following the Juno acquisition, Valereum board member Alan Gravett will assume the role of Juno chairman. Only the approval of the Gibraltar Financial Services Commission is required to complete the transfer and change of control.

Related: Gibraltar Government Plans To Close Public-Private Sector Gap With Blockchain

Gibraltar has recently proven to be a more favorable regulatory environment for businesses in the cryptocurrency space. The Gibraltar Financial Services Commission recently cleared cryptocurrency firms seeking to operate in the territory, including the local Huobi Group subsidiary, Huobi Gibraltar, which offers spot trading services, and Block’s Bullish Limited subsidiary. .one.

[ad_2]