Smart Valor has received conditional approval for listing on Nasdaq First North Growth Market. The Swiss company aims to become the first European digital asset exchange listed on Nasdaq First North.
Smart Valor has applied for and received conditional approval for admission to trading (the “Listing”) of the Company's Swedish depository receipts (SDRs) on Nasdaq First North Growth Market (“Nasdaq First North”). In conjunction with the Listing, the Company intends to carry out an issue of SDRs to institutional investors and the public in Sweden (the “Offering”).
Olga Feldmeier, Chairman of the Board and co-founder, comments: “Today, blockchain and digital assets belong to one of the most important technological innovations. Due to the early stage of the industry, the best practice of governance, compliance and transparency have not yet been broadly established. By becoming a public company, Smart Valor aims to stand out as one of the early industry leaders in terms of corporate governance and transparency. This will increase our credibility and facilitate the build-out of our B2B business with traditional banks and fintech companies.
Additionally, becoming the first European digital asset exchange listed on Nasdaq First North will provide more trust and security to all investors and stakeholders due to the high-quality standards and requirements of Nasdaq regarding financial transparency, reporting, information disclosures and corporate governance practice.”
The conditional approval from Nasdaq Stockholm AB contains customary conditions in line with Nasdaq First North’s rulebook, such as the distribution requirement regarding SMART VALOR’s SDRs is fulfilled ahead of the planned Listing. Additionally, the approval is conditional on that the Company completes the Offering according to plan and that sufficient proceeds is received through the Offering.
Nasdaq First North Growth Market, a multilateral trading facility (MTF) in accordance with MiFID II, is generally more suitable for small and medium growth companies seeking less stringent requirements than on the main market. In connection with the listing process, all companies applying to be admitted to trading on Nasdaq First North Growth Market must engage a Certified Adviser. The Certified Adviser is responsible for guiding and supporting the company in the listing process. Mangold Fondkommission AB is acting as Smart Valor’s Certified Adviser.
Smart Valor, founded in 2017, offers online trading, brokerage services, custody and discretionary asset management to its customers from over 130 countries. To meet the growing demand from financial institutions for digital asset technology, the company introduced its B2B offering “Crypto-as-a-Service” earlier this year. The service is aimed at enabling banks and fintech companies to offer digital assets to their customers, using Smart Valor exchange and custody technology, regulatory authorization, and operational support.
(Press release / SK)
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