The Valereum Blockchain PLC has added the Juno Group to its kitty to provide a regulated link between the fiat and crypto worlds. The Gibraltar-based company specializes in the formation and management of trusts and similar entities, administration of funds including traditional and cryptocurrencies, and formation and management of companies.
The deal stands at £850,000. Of which £500,000 will be paid in cash upon completion of the acquisition process and £350,000 payable in Valereum shares.
For Richard Poulden, chair of Valereum, the acquisition is an important part of building the Valereum Bridge. He said it complements the company’s efforts with respect to the Gibraltar Stock Exchange.
Poulden said the acquisition represents the next level in the evolution of digital assets becoming globally accepted and tradable. He believes it brings digital assets closer to the mainstream and opens them up to be used in transactions with other asset classes. Poulden said the Gibraltar Stock Exchange will also bring about the next generation of digital assets. It will give recognition to Gibraltar as a virtual node in digital trade.
Russell Johnston, the outgoing chair of Juno, says they are a compelling fit for Valereum’s growth plans. He said Juno’s clients and employees will benefit from being part of a large, growing and ambitious financial services organization.
Upon completion of the acquisition process, Alan Gravett will take over as Juno’s chair. With Juno, Valereum will be better positioned to enable digital asset issuers and firms that operate within the crypto sector.
Valereum Blockchain PLC will also rename itself to Valereum PLC to better reflect the company’s widened focus. The new name shows the breadth of the company’s business activities.