KR1, a crypto staking firm based in the Isle of Man, is preparing to migrate its listing from the small-cap Aquis exchange to the main market of the London Stock Exchange (LSE). The change is anticipated to finish next month, marking a significant milestone as UK regulators adopt a more favorable view toward crypto. Co-founder Keld Van Schreven stated that this transition would act as “a starter gun for this new asset class on the LSE,” with expectations that more crypto businesses will follow suit.
Currently valued at around £56 million (about $75 million), KR1 is distinguishing itself as the “first authentic digital asset company” to be publicly listed on the LSE, in contrast to other entities that primarily hold cryptocurrencies like Bitcoin (BTC). Founded in 2014, KR1 invests in nascent blockchain projects and generates revenue through staking assets including Ether (ETH) and Polkadot (DOT). The firm has made over 100 investments in digital assets and is “doubling down on staking,” according to Van Schreven.
UK Now More Open to Crypto
This development aligns with the UK’s Financial Conduct Authority (FCA), which has been signaling a welcoming attitude towards cryptocurrencies. Recently, the FCA has allowed crypto exchange-traded products to trade on the LSE and plans to implement a thorough digital asset framework in the upcoming year. Additionally, the Bank of England is revisiting proposed limits on corporate holdings of stablecoins, intending to permit exceptions for businesses that must maintain larger reserves of fiat-pegged assets.
The BoE previously proposed caps on stablecoin holdings of approximately $27,000 for individuals and $13 million for corporations. This adjustment occurs amid heightened global regulatory rivalry, particularly with the proposed GENIUS Act in the US, which provides clearer regulations for digital asset companies.
BoE reconsiders caps on stablecoin holdings. Source: GC Cooke
Argo Blockchain’s Departure from LSE
In parallel, Argo Blockchain is set to delist from the LSE as part of a major restructuring effort, handing control over to its largest creditor, Growler Mining. This decision concludes Argo’s six-year presence as one of the few publicly traded crypto mining firms in the UK. The company plans to keep its Nasdaq listing contingent upon fulfilling compliance obligations, which include a potential reverse stock split before January 2026.
