Valereum PLC (AQSE:VLRM) has acquired 79.2 million GATE tokens into its treasury as part of its strategy to advance its regulated tokenisation platform.
GATE tokens are the native cryptocurrency of GateChain, a blockchain developed by the Gate.io cryptocurrency exchange.
"By embedding GATE within the ecosystem, its benefits are expected to extend beyond being a treasury asset, by becoming the utility backbone of Valereum's regulated tokenisation marketplace."
New platform features are planned to enhance the token’s utility and promote wider adoption. The tokens were acquired under an agreement entered into before the Aquis framework on cryptocurrency-related strategies took effect.
Group CEO Gary Cottle said: “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.”