British cryptocurrency staking company KR1, based on the Isle of Man, is set to move its stock listing from the small-cap Aquis Stock Exchange to the main market of the London Stock Exchange (LSE) next month. Co-founder Keld van Schreve described this move as a "starter gun" for crypto firms on the LSE, anticipating it will encourage other companies to follow suit.
KR1, founded in 2014, has a market capitalization of approximately £56 million (around $75 million) and has completed over 100 digital asset investments. The company generates revenue through staking assets like Ether (ETH), Polkadot (DOT), and Cosmos (ATOM), and plans to establish a placing programme to issue new shares for expanding its staking operations.
This uplisting coincides with a more receptive regulatory environment in the UK. The Financial Conduct Authority (FCA) has increased resources for crypto regulation and recently lifted a ban on retail customers accessing crypto exchange-traded products (ETPs). Following this, major asset managers like BlackRock and Bitwise listed crypto investment vehicles on the LSE. Additionally, the Bank of England is reconsidering proposed caps on stablecoin holdings.
KR1 will join other crypto entities on the LSE, such as Argo Blockchain, which plans to delist in December after a restructuring. Van Schreve emphasized that KR1 is the "first authentic digital asset company" to list on the main market, distinguishing it from firms that primarily hold cryptocurrencies like Bitcoin.
