Gibraltar could be home to the world’s first cryptocurrency stock exchange, should regulators approve the purchase of a majority stake in the local bourse.
BTC is up 4.45%, DOGE up 7.33%, ADA up 8.06%, ETH up 8.93%, and USDT up 0.03%.
Valereum is looking to acquire 80% of the Gibraltar Stock Exchange, which would allow the trading of stocks and financial products for cryptocurrency, subject to the approval of the financial regulator.
Chairman Richard Poulden said the move will make cryptocurrencies more attractive as investors can put a portion of savings into fiat security which they can borrow against and make big purchases.
Cryptocurrencies exchanged for stocks will be held in a trust company owned by the exchange. The stocks could then be leveraged as collateral for other financial activities such as bank loans.
The initial cryptocurrencies being eyed for trades on the stock exchange include Bitcoin, Dogecoin, Cardano, Ethereum, and Tether.