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UK Opens Arms to Crypto as KR1 Targets London Stock Exchange Listing
Yahoo Finance· 2025-10-28 15:34
Group 1: Company Overview - KR1 is a British blockchain investment firm planning to move its stock listing from the Aquis Stock Exchange to the main market of the London Stock Exchange (LSE), marking a significant step for crypto companies seeking legitimacy in traditional finance [1] - The company has a market capitalization of approximately £56 million ($75 million) and focuses on blockchain infrastructure and staking, distinguishing itself from other listings that primarily hold cryptocurrencies [3] - Founded in 2014 and based on the Isle of Man, KR1 invests in early-stage blockchain projects and generates income from staking networks like Ethereum and Polkadot [3] Group 2: Strategic Moves and Future Plans - The uplisting is expected to be completed next month, pending approval from the Financial Conduct Authority (FCA) and shareholders, making KR1 the first dedicated digital asset company to trade on the LSE's primary market [1] - Following the LSE listing, KR1 plans to expand its staking operations through a new share placement program, with a focus on increasing institutional demand for blockchain validation services [4] - Co-founder Keld Van Schreven stated that this move could serve as a catalyst for more blockchain companies to enter the LSE [2] Group 3: Industry Context and Regulatory Environment - The UK is shifting its stance on crypto regulation, actively positioning itself as a hub for digital assets, which includes lifting a four-year ban on crypto-based exchange-traded notes [5] - The FCA has accelerated its approval process for crypto firms, with a current approval rate of 45%, a significant increase from less than 15% in previous years [6] - The regulator is committed to aligning the UK's digital asset framework with international standards and is preparing to implement a full regulatory regime next year [7]