A blockchain technology builder based in Gibraltar is aiming to build a bridge between the worlds of crypto and fiat currency.
Valereum Blockchain, which is listed in London, has raised £1 million via a share placing to build the ‘Valereum Bridge’.
This ‘Bridge’ is a Non-Fungible-Token bespoke securities financial platform designed to link Government-issued currency with crypto strategically, securely, and safely.
“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,” said chairman Richard Poulden.
“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.
“We have raised this 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.
“We are working 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.”Cryptocurrency