British crypto firm KR1 eyes London Stock Exchange as UK warms toward industry: FT

2 hours ago 2

UK regulators are adopting a more lenient stance on crypto, opening the LSE to digital assets and easing proposed stablecoin limits for institutions.

KR1, a crypto staking company based 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 the move, expected to be completed next month, represents “a starter gun for this new asset class on the LSE,” adding that he anticipates more crypto firms will follow.

With a market capitalization of around 56 million British pounds (approximately $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), he said.

Founded in 2014, KR1 invests in early-stage blockchain projects and earns revenue through staking assets such as Ether (ETH) and Polkadot (DOT). The company has completed over 100 digital asset investments and is “doubling down on staking,” according to Van Schreven.

UK warms toward crypto

The planned uplisting comes as the UK’s Financial Conduct Authority (FCA) signals a more receptive stance toward crypto. The regulator recently permitted crypto exchange-traded products to trade on the LSE and plans to implement a comprehensive digital asset framework next year.

Furthermore, the Bank of England is reconsidering proposed caps on corporate holdings of stablecoins, with plans to allow exemptions for firms that require larger reserves of fiat-pegged assets.

The BoE had initially proposed caps on stablecoin holdings, 20,000 pounds (about $27,000) for individuals and 10 million pounds (around $13 million) for companies. The shift comes amid global regulatory competition, especially from the GENIUS Act in the US, which offers clearer rules for digital asset firms.

Argo Blockchain to delist from LSE

Meanwhile, Argo Blockchain will delist from the LSE as part of a sweeping restructuring that hands control of the company to its largest creditor, Growler Mining. The move ends Argo’s six-year run as one of the UK’s few publicly traded crypto mining firms.

The company will maintain its Nasdaq listing, subject to meeting compliance requirements, including a planned reverse stock split before January 2026.

Magazine: Back to Ethereum — How Synthetix, Ronin and Celo saw the light

Read Entire Article