Gibraltar-Based Blockchain Tech Firm Seeking To Bridge Crypto And Fiat Currencies
by Liz Seyi Digital marketing managerA London-listed business situated in
Gibraltar has pledged to build a bridge between the worlds of crypto and fiat
currency.
In news
that will be of interest to many of those opening a crypto company in Gibraltar,
Valereum Blockchain has used a share placing to raise £1 million for the
purpose of building the ‘Valereum Bridge’.
The ‘Bridge’ is a Non-Fungible-Token
bespoke securities financial platform, intended to connect Government-issued
currency to crypto in a safe, secure and strategic manner.
“A bright future” envisaged for cryptocurrency in the British
Overseas Territory
Valereum Blockchain chairman Richard
Poulden commented: “We have noted the volatility of the Bitcoin price in recent
weeks but remain supporters of cryptocurrency mining and see a bright future
for this part of the company’s business.
“Valereum’s bitcoin miners are working
well and profitably in the US, and we continue to evaluate new opportunities to
expand our BTC mining operations in a diversified way.”
Mr Poulden said the firm had raised a
“small amount, at the current market price, from strategic current
shareholders, to cover the costs of rolling out the next stage of The Valereum
Bridge.”
He added that the company was
cooperating closely with Mattereum “to refine the structure and protocols of
the NFTs to ensure total security for when the launch occurs on the crypto
networks.”
We provide leading solutions for Gibraltar crypto
specialists
The news of the ongoing development of
the ‘Valereum Bridge’ comes in the wake of an entity that had been handed a
banking licence by the British Overseas Territory in relation to
cryptocurrency, opening its physical headquarters.
As
reported by the Daily Express, Xapo
provides a bitcoin wallet, along with a cold storage vault and a debit card
also based on bitcoin. The European e-money licence that the business now holds
in Gibraltar has enabled it to offer electronic fiat money custodial and
transfer services.
Albert Isola, the Gibraltar finance
minister, was quoted as telling the Decrypt news outlet: “Xapo have now
established themselves in Gibraltar as a fully-fledged bank.”
Whether you are only just opening a
crypto company in Gibraltar or your presence on the Rock is longer-established,
TAG Consultancy’s experts are well-placed to support the success and growth of
your business with a full complement of services.
If you
are interested in benefitting from our tailored business solutions, please
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Created on Jun 25th 2021 05:39. Viewed 280 times.
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Jul 5th 2021 00:38