- Launch of XRP ETP: Valour plans to introduce a Ripple (XRP) Exchange Traded Product on a European exchange in early December 2023, expanding its range of digital asset investment products.
- Investment Access and Expansion: The Ripple (XRP) ETP will allow investors to gain exposure to XRP, the native cryptocurrency of the Ripple ecosystem, through banks or brokers, meeting the growing demand for diverse digital asset investments in European markets. Valour continues to prioritize product innovation and development, and it has plans to list additional traditional and physically backed ETPs in the coming months.
TORONTO, Nov. 22, 2023 /PRNewswire/ – DeFi Technologies Inc. (the “Company” or “DeFi Technologies“) (NEO: DEFI) (GR: RB9) (OTC: DEFTF), a crypto native technology company that pioneers the convergence of traditional capital markets with the world of decentralised finance (“DeFi“), is excited to announce that its subsidiary Valour Inc. (“Valour“), a leading issuer of exchange traded products (“ETPs“) that provide simplified access to digital assets, plans to launch a Ripple (XRP) ETP on a European exchange in early December 2023.
The Valour Ripple XRP ETP will enable investors to gain exposure to XRP, the native cryptocurrency in Ripple’s ecosystem, simply and securely, via their bank or broker. XRP has a market cap of $31.6 Billion and ranks fifth among all cryptocurrenciesglobally.
“The introduction of the Ripple (XRP) ETPs by Valour is a significant expansion of our product offerings,” said Marco Infuso, Chief Sales Officer of Valour. “Adding XRPto our suite of products caters to the growing demand for diverse digital asset investments in European markets. These ETPs provide European investors with access to leading cryptocurrencies, aligning with our commitment to democratizing and pioneering the digital asset market for traditional investors.”
Ripple XRP is a key player in the digital currency space, known for its use in facilitating rapid and low-cost international money transfers. Operating on RippleNet, XRP serves as a bridge currency in Ripple’s payment network, allowing for seamless currency exchanges worldwide. This has positioned XRP as a preferred choice for financial institutions seeking efficient alternatives to traditional cross-border payment methods.
Valour continues to prioritize product innovation and development, and it has plans to list additional traditional and physically backed ETPs in the coming months.
In addition to its novel digital asset platform, which includes 1Valour EthereumPhysical Staking ETP and 1Valour Bitcoin Physical Carbon Neutral ETP, Valour offers fully hedged digital asset ETPs with low to zero management fees, with product listings across European exchanges, banks and broker platforms. Valour’s existing product range includes Valour Uniswap (UNI), Cardano (ADA), Polkadot (DOT), Solana (SOL), Avalanche (AVAX), Cosmos (ATOM), Binance (BNB), Enjin (ENJ), Bitcoin Carbon Neutral (BTCN) and Valour Digital Asset Basket 10 (VDAB10) ETPs with low management fees. Valour’s flagship products are Bitcoin Zero and Ethereum Zero, the first fully hedged, passive investment products with Bitcoin(BTC) and Ethereum (ETH) as underlyings which are completely fee free.
Closing of Oversubscribed Private Placement
DeFi Technologies is also pleased to announce that further to its press release dated November 13, 2023, it has closed a non-brokered, oversubscribed, private placement of 11,812,500 units of the Company (“Units“) at a price per Unit of C$0.16for aggregate gross proceeds of C$1,890,000 (the “Offering“). Each Unit consists of one common share of the Company (each, a “Common Share“) and one Common Share purchase warrant (each, a “Warrant“). Each Warrant will entitle the holder thereof to acquire one Common Share at an exercise price of C$0.23 per Common Share until November 22, 2025. No finder’s fees were paid in connection with the Offering.
The Company intends to use the proceeds of the Offering for general corporate purposes, including to satisfy liabilities of the Company. Certain Units, Common Shares and Warrants purchased will be subject to a four-month hold period commencing on the closing date of the Offering pursuant to National Instrument 45-102 – Resale of Securities, and the remaining Units, Common Shares and Warrants were distributed in offshore jurisdictions pursuant to Ontario Securities Commission Rule 72-503 – Distributions Outside Canada and, as such, will not be subject to a statutory hold period in accordance with applicable Canadian securities laws.
About DeFi Technologies
DeFi Technologies Inc. (NEO: DEFI) (GR: RB9) (OTC: DEFTF) is a crypto native technology company that pioneers the convergence of traditional capital markets with the world of decentralised finance (DeFi).
With a dedicated focus on industry-leading Web3 technologies, DeFi Technologies aims to provide widespread investor access to the future of finance. Backed by an esteemed team of professionals with extensive experience in financial markets and digital assets, we are committed to revolutionising the way individuals and institutions interact with the evolving financial ecosystem.
Join DeFi Technologies’ digital community on Linkedin and Twitter, and for more details, visit https://defi.tech/
About Valour
Valour Inc. issues exchange traded products (ETPs) that enable retail and institutional investors to access digital assets like Bitcoin in a simple and secure way via their traditional bank account. Established in 2019, Valour is a wholly owned subsidiary of DeFi Technologies Inc. (NEO: DEFI) (GR: RB9) (OTC: DEFTF).
For more information on Valour, visit https://valour.com
