The cryptocurrency staking company KR1, headquartered on the Isle of Man, is preparing to move its listing from the small-cap Aquis Exchange to the main market of the London Stock Exchange (LSE).
Co-founder Keld Van Schreven told the Financial Times that this move, expected to be completed next month, represents "the starting gun for this new asset class on the LSE," adding that he anticipates more crypto companies will follow suit.
With a market capitalization of approximately £56 million (about $75 million), KR1 is "the first true digital asset company to list on the LSE," distinguishing itself from other publicly traded entities that primarily focus on holding cryptocurrencies like Bitcoin (BTC), he stated.
Founded in 2014, KR1 invests in early blockchain projects and generates income through staking assets such as Ethereum (ETH) and Polkadot (DOT). The company has completed over 100 digital asset investments and is "doubling down on staking," Van Schreven said.
This planned upgrade in listing comes as the UK's Financial Conduct Authority (FCA) signals a more accepting stance towards cryptocurrencies. The regulator recently allowed crypto exchange-traded products to trade on the LSE and plans to implement a comprehensive digital asset framework next year.
Additionally, the Bank of England is reconsidering its proposed cap on corporate stablecoin holdings, planning to provide exemptions for companies that require larger fiat-backed asset reserves.
The Bank of England initially proposed a cap on stablecoin holdings of £20,000 (about $27,000) for individuals and £10 million (about $13 million) for businesses. This shift comes amid global regulatory competition, particularly from the U.S. GENIUS Act, which offers clearer rules for digital asset companies.
Meanwhile, Argo Blockchain will delist from the LSE as part of a comprehensive restructuring that hands control of the company to its largest creditor, Growler Mining. This move ends Argo's six-year run as one of the few publicly traded cryptocurrency mining companies in the UK.
The company will maintain its Nasdaq listing but must meet compliance requirements, including plans for a reverse stock split before January 2026.
Related: Citibank partners with Coinbase to pilot stablecoin payments
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