Valereum PLC (AQSE:VLRM, FRA:6TJ, OTCQB:VLRMF) said Quorium Global Photonics has launched a stablecoin on Ripple’s XRP Ledger, marking a further step towards completing the companies’ proposed transaction.
The VXRUP stablecoin will serve as the primary liquidity vehicle for QGP’s ecosystem. QGP told Valereum that the issuance forms the foundation of its liquidity framework and advances the execution of Valereum’s digital asset strategy.
Valereum continues to hold 20,000 QMTN2601001 medium-term-note tokens under the original agreement announced in January. Each token carries a stated value of US$10,000, implying an aggregate stated value of US$200 million, although the company stressed that token valuations are inherently uncertain.
Chair James Bannon said the parties were in the “final stages” of a project that has been three years in development. Chief executive Gary Cottle acknowledged that completion had taken longer than anticipated, while QGP said its infrastructure was operational and the pathway to liquidity was clear.
