The information contained within this
announcement is deemed by the Company to constitute inside
information as stipulated under the Market Abuse Regulation (EU)
No. 596/2014 as it forms part of UK domestic law by virtue of the
European Union (Withdrawal) Act 2018 ("MAR")
16/09/2024
Valereum Plc
("Valereum" or the "Company")
VLRM Markets Regulated and Licensed as
Digital Asset Service Provider in El Salvador
Valereum Plc (AQSE: VLRM) is delighted to
announce the issuance of a Digital Asset Service Provider (DASP)
licence for VLRM Markets S.A. DE C.V. ("VLRM Markets") in El
Salvador.
This enables VLRM Markets, acting as
a regulated and licensed DASP, to establish and operate a real
world asset (RWA) ecosystem with three principal parts within El
Salvador's progressive regulatory framework:
● RWA Platform - platform for digital
asset creation, primary issuance and secondary bulletin
board
● V-Wallet - an interface for interaction
with the RWA Platform, as well as to buy, hold sell and transfer
digital assets including stablecoins, cryptocurrency and utility
tokens
● VLRM Markets PRO - bespoke services for
professional customers (including trading, brokerage, OTC and
custody) to access real world assets, cryptocurrency, stablecoins
and/or utility tokens
Following the likes of Binance and Bitfinex
obtaining a DASP licence in El Salvador, the
licence permits VLRM Markets to facilitate the issuance and
trading of a diverse range of tokenised real world assets
including securities, bonds and funds, real estate, artwork and
collectibles, commodities, intellectual property, image rights and
royalties.
VLRM Markets' strategic approach for its RWA
ecosystem involves collaborating with industry experts to innovate
asset issuance, expand market reach and enhance liquidity in
traditionally illiquid assets.
VLRM Markets, a Valereum subsidiary, will
operate from its office in El Salvador and, via its DASP licence,
intends to make RWA products available to customers globally
subject to any applicable digital asset and/or investment rules and
requirements.
Expansion into
El Salvador
Valereum views El Salvador as a strategic
destination for its business expansion. This calculated move is
driven by El Salvador's growing economy and its innovative approach
to digital business and international trade.
During 2021, El Salvador became the first
country in the world to adopt Bitcoin as legal tender, and in 2023
law was passed relating to the establishment of a digital asset
regime relating to the issuance of digital assets and other digital
asset services such as trading platforms, custodians and brokers
under the purview of the Comisión Nacional de Activos Digitales
(CNAD). CNAD's mission is to champion sustainable development and
foster innovation within the digital asset ecosystem in El Salvador
and it is committed to establishing a robust regulatory framework
that ensures security, transparency, and trust for all participants
in the market and through this, promote financial inclusion and
drive economic growth across the country.
Valereum is greatly encouraged by El Salvador's
approach to innovation and is aligned with CNAD's mission. Being
committed to its long-term strategy in relation to its digital
asset business operations, Valereum sees El Salvador as a central
pillar of its markets' business and will focus on sustainable
growth for the benefit of all stakeholders and market
participants.
Head of VLRM
Markets, Adrian Hogg commented:
"We are
delighted to have been awarded this licence and we are looking
forward to building our new business in El Salvador that will seek
via its activities to bridge the gap between traditional assets and
the digital world to capitalise on the burgeoning opportunity of
the tokenisation of RWA."
Valereum CEO
Nick Cowan added:
"Following
much hard work behind the scenes, we are delighted that VLRM
Markets has been issued a DASP licence and look forward to Valereum
Markets establishing a new home in El Salvador and creating a
pioneering presence in the realm of real-world assets, driving
forward the convergence of traditional finance with the digital
economy."
We will continue to update the markets with
further developments.
For further information, please contact as
follows:
Enquiries:
Valereum
Plc
James Formolli, Chairman
Tel: +971 4584 6284
Stanford
Capital
Partners
Tel: 023 3650 3650
Bob Pountney
Patrick Claridge
First Sentinel
Corporate Finance
AQSE Corporate Adviser
Brian Stockbridge
Tel: +44 20 3855 5551
The Directors of the Company accept
responsibility for the contents of this announcement.
For more information, please visit the Company's
website at www.vlrm.com