Blockchain Firm Valereum Acquires 90% of Gibraltar Stock Exchange

Blockchain firm Valereum is acquiring 90% of the Gibraltar Stock Exchange (GSX) Group in a move to build a fully regulated, integrated fiat and digital exchange, the firm announced Friday.

  • Valereum announced in October that it was on track to acquire 80% of GSX but has now increased its ownership to 90%. Financial terms of the acquisition were not disclosed.
  • The acquisition is subject to approval by the Gibraltar Financial Services Commission (GFSC), which regulates the financial services industry in Gibraltar.
  • Once the acquisition is approved, Valereum said it plans to establish the GSX as one of the world’s first fully regulated, integrated fiat and digital exchanges.
  • “This simplifying of the acquisition structure is important for all parties and will lead to faster completion of the transaction said Richard Poulden, chairman of Valereum.
  • Since 2019, the GSX has been allowing financial firms to list blockchain-based securities on its GSX Global Market platform and has regulatory permissions from GFSC to cover the use of blockchain or distributed ledger technology.
  • This will give listed instruments on the GSX access to a regulated pool of crypto capital that is not available anywhere else, and it will give crypto currency holders the ability to have a direct, verifiable holding in fiat securities, added Valereum in a statement.

Read more: GSX Group’s New Digital Securities Venue Tokenizes First Client Shares

Leave a Reply