A cryptocurrency company is to buy the Gibraltar Stock Exchange, which will enable investors to buy crypto, debt and equities on the same bourse.
Valereum Blockchain, which aims to link fiat currencies — government-issued money not backed by a commodity, such as sterling or US dollar — to cryptocurrencies, has signed an option to buy 80 per cent of the exchange.
The company uses blockchain technology to pair cryptocurrencies with fiat currency products.
If the purchase is approved by regulators, the Gibraltar Stock Exchange would become the first where fiat instruments could be purchased alongside cryptocurrencies.
The Gibraltar Stock Exchange was founded in 2014. According to Nick Cowan, its chief executive, the exchange has admitted more than 2,500 securities worth almost $5 billion in total.