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Share Name Share Symbol Market Type Share ISIN Share Description
KR1 Plc NEX:KR1 NEX Ordinary Share IM00BYYPQX37
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.50p +6.67% 8.00p 6.50p 8.00p 8.00p 7.50p 7.50p 416,647 12:51:58
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
- - - - -

KR1 plc Launch of KRX Ltd in Gibraltar

14/01/2019 11:00am

UK Regulatory (RNS & others)


 
TIDMKR1 
 
KR1 Plc 
 
                           ("KR1" or the "Company") 
 
                        Launch of KRX Ltd in Gibraltar 
 
KR1 is pleased to announce that it has set up a subsidiary in Gibraltar, KRX 
Ltd ("KRX"), through which the Company intends to sponsor credible, token-based 
projects with clear track records, to list onto the Gibraltar Blockchain 
Exchange ("GBX"), a subsidiary of the Gibraltar Stock Exchange Group. The GBX 
aims to be one of the world's leading crypto asset as it has been granted a 
full licence as a provider of Distributed Ledger Technology ("DLT") from the 
Gibraltar Financial Services Commission under Gibraltar's Financial Services 
Regulations 2018 DLT framework. The Gibraltar Stock Exchange is the first stock 
exchange to own a regulated blockchain exchange. 
 
The Directors believe that Gibraltar has done a tremendous amount of work in a 
short space of time to adapt its regulatory framework to cryptocurrencies and 
DLTs. The regulatory framework that Gibraltar has set in motion has made that 
country a fertile environment in which to develop crypto based businesses and 
Gibraltar's legal firms, accountants and banks are embracing the potential of 
the technology. 
 
Gibraltar has rapidly become a popular jurisdiction for new and innovative 
blockchain projects to set up and do business. This popularity, combined with 
KR1's status as a Sponsor for the GBX, has given the Company the opportunity to 
launch KRX take advantage of the opportunities available in Gibraltar. 
 
As one of a select few Sponsors, KR1 can negotiate fees for providing this 
service and, with significant interest already, the Directors believe that it 
will be a new and potentially significant revenue stream for the Company. 
Through KRX, KR1 is aiming to build a significant presence in one of the 
world's most advanced regulated cryptocurrency frameworks and to become a major 
presence within the blockchain community in Gibraltar. With KR1's full network 
on which to draw, the Directors believe that KRX is perfectly positioned to 
help new projects setting up businesses in Gibraltar and to seize the 
opportunities that arise with the GBX Sponsorship. 
 
The Directors are very excited to grow KR1's presence across Europe and we look 
forward to making the most of the warm welcome Gibraltar has given the Company 
and KRX so far. 
 
The Directors of the issuer accept responsibility for the contents of this 
announcement. 
 
                                    -ENDS- 
 
Contact Details: 
 
KR1 Plc 
 
Stephen Corran 
 
+44 (0)16 2467 6716 
 
scorran@bridgewaters.co.im 
 
NEX Exchange Corporate Adviser: 
 
Peterhouse Capital Limited 
 
Fungai Ndoro and Mark Anwyl 
 
+44 (0)20 7469 0930 
 
 
 
END 
 

(END) Dow Jones Newswires

January 14, 2019 06:00 ET (11:00 GMT)

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