A cryptocurrency company is on track to purchase the Gibraltar Stock Exchange (GXS).
Valereum Blockchain, a Gibraltar-based blockchain technology group, has signed an option to snap up 80 per cent of the GSX.
If given the green light by regulators, Valereum claims it would establish the world's first fully regulated integrated fiat and digital exchange, where investors could buy securities using bitcoin, ethereum, dogecoin, cardano and stablecoin tether.
Speaking to This is Money, Richard Poulden, chairman of Valereum, said: 'Gibraltar is a great place for this world first integrated exchange due to the fact it uses English language, it has a good legal structure and has a robust regulatory environment to European standards.
'This is a very exciting opportunity for investors as they will be able to use crypto to invest in fiat securities in a fully regulated environment for the first time.'
No crucial details like price have been disclosed. Valereum said in a statement: 'As with many exchange transactions the full details remain confidential.'
Valereum's Mr Poulden, said: 'This deal represents the next stage in the evolution of digital assets becoming globally accepted and tradeable.
'It brings crypto closer to the mainstream and opens it up to be used in transactions with other asset classes.
'Just as The Rock of Gibraltar has been a physical port for centuries, GSX will encourage the next generation of digital assets to see Gibraltar as a virtual node in digital trade.
'In time we will seek an international listing for the GSX itself as we see this as a compelling investment proposition.'
If the deal goes ahead, current GSX owner, the Global Stock Exchange Group, will retain a 20 per cent stake in the GSX.