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LONDON - Valereum Plc (AQSE:VLRM) has acquired 79,180,595 GATE Tokens for its treasury, the blockchain technology company announced Thursday in a press release.
The acquisition is part of Valereum’s strategy to strengthen its digital asset position and support revenue-generating opportunities through issuer and buy-side incentives, according to the company.
Valereum stated that the GATE Token will serve as the "utility backbone" of its regulated tokenization marketplace. The company plans to integrate new features that enhance the token’s utility and value while driving adoption.
The acquisition was completed under an agreement entered into before the effective date of the Aquis framework for issuers pursuing cryptocurrency strategies, the company noted.
"Acquiring a substantial allocation of GATE Tokens tethers the interests of the Company to those of the GATE community. This is crucial as we build out a utility-rich token ecosystem with real-world asset backing," said Gary Cottle, Group CEO at Valereum.
The company indicated that the move aligns with its broader tokenization and platform strategy, positioning GATE as a cornerstone of its operations. According to the press release, Valereum intends to develop future use cases for the token tied to asset onboarding, access rights, and utility.
Valereum said it expects to make further announcements as commercial use cases are rolled out.
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