Oct 28 (Reuters) - British cryptocurrency company KR1 said on Tuesday it plans to uplist its stock to the main market of the London Stock Exchange, to enhance its visibility and broaden investor base.
KR1's move comes at a time when decentralised blockchain companies have gained a strong foothold in the global financial system and are of great interest to institutional investors.
The UK, which has one of the fastest-growing crypto markets globally, has been revising regulations and positioning itself as a hub for the maturing sector.
KR1, currently listed on the Aquis Stock Exchange, said it would also establish a placing programme to issue new shares to expand its staking operations, which involve validating transactions on blockchain networks in exchange for rewards.
The company's stock migration is subject to approval of a prospectus by the Financial Conduct Authority and shareholder approval.
Reporting by Yamini Kalia in Bengaluru; Editing by Subhranshu Sahu
Source: Reuters