KR1 Targets London Stock Exchange as UK Embraces Crypto
Fhumulani Lukoto
- 2 min read
Key Takeaways
KR1’s LSE Listing: British crypto firm KR1 is preparing to move from the Aquis Exchange to the London Stock Exchange, aiming to increase visibility and accessibility for global investors.
Regulatory Support: The UK’s Financial Conduct Authority (FCA) has shown a more open stance toward crypto, signalling growing regulatory acceptance of digital assets.
Industry Impact: KR1’s move is expected to encourage other crypto companies to list in London, helping integrate digital assets into mainstream financial markets.
British cryptocurrency firm KR1 is set to make a significant move by listing on the London Stock Exchange (LSE), transitioning from the Aquis Exchange.
Overview
According to the Financial Times, Co-founder Keld van Schreven mentioned that the upcoming move, set for completion next month, marks
“the starting signal for this new asset class on the LSE, and he expects additional crypto firms to follow suit.”
This decision underscores the UK’s evolving stance towards the crypto sector, aiming to position itself as a global hub for digital asset innovation.
He said,
“With a market capitalisation of around 56 million British pounds (about $75 million), KR1 is the first authentic digital asset company to list on the LSE, distinguishing itself from other listed entities that focus mainly on holding cryptocurrencies like Bitcoin (BTC).”
Van Schreven added,
“The company has completed over 100 digital asset investments and is doubling down on staking.”
KR1’s Strategic Move to the LSE
KR1, based in the Isle of Man, specialises in crypto staking and early-stage investments in digital asset tokens. With over 100 investments to date and a market valuation of approximately £56 million, the company is preparing to finalise its LSE listing next month.
Van Schreven views this uplisting as a pivotal step, stating it will enhance accessibility for global investors and validate the company within a more rigorous regulatory framework.
UK’s Regulatory Shift Towards Digital Assets
The UK’s Financial Conduct Authority (FCA) has been progressively adopting a more open approach to the crypto industry. Recent initiatives include the introduction of crypto exchange-traded products on the LSE and plans to establish a comprehensive regulatory framework for the crypto market by 2026.
Van Schreven notes that the FCA has “absolutely” become more open to crypto companies recently, highlighting the regulator’s increased investment in resources dedicated to this asset class.
Implications for the Crypto Industry
KR1’s decision to list on the LSE is seen as a significant milestone for the crypto industry in the UK. Unlike other LSE-listed crypto firms that primarily focus on holding digital currencies, KR1’s involvement in staking and strategic investments offers a unique value proposition.
Van Schreven anticipates that KR1’s move will encourage other crypto companies to consider listing in London, further integrating the digital asset sector into mainstream financial markets.
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Fhumulani Lukoto
Cryptocurrency Journalist
Fhumulani Lukoto holds a Bachelors Degree in Journalism enabling her to become the writer she is today. Her passion for cryptocurrency and bitcoin started in 2021 when she began producing content in the space. A naturally inquisitive person, she dove head first into all things crypto to gain the huge wealth of knowledge she has today. Based out of Gauteng, South Africa, Fhumulani is a core member of the content team at Coin Insider.