SMART VALOR AG (“SMART VALOR” or the "Company”) 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”).
The Company is preparing a company description that will be published on Mangold Fondkommission AB’s website and the Company's website through a press release prior to the Listing. More information about the Offering will be communicated at a later stage.
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 on Nasdaq First North and that the Company publishes a company description. Additionally, the approval is conditional on that the Company completes the Offering according to plan and that sufficient proceeds is received through the Offering to cover the Company's working capital needs for the upcoming twelve months, that the Company submits a copy of a signed depository agreement with Euroclear Sweden, completes Nasdaq training for board and management as well as no later than two days before the first day of trading, update its website in accordance with regulations.
SMART VALOR, founded in 2017 in Switzerland, operates a digital asset investment platform under the regulation of Liechtenstein and Switzerland. It became the first full-service digital asset exchange in the region, offering online trading, brokerage services, custody and discretionary asset management to its customers from over 130 countries. Previously, the Swiss Government selected SMART VALOR for an innovation grant through Innosuisse and Forbes nominated the company as a top 10 most exciting technology SME in Europe. The retail business has been growing rapidly resulting in 5.200% growth in transaction volume executed through the platform, as of September this year.
To meet the growing demand from financial institutions for digital asset technology, SMART VALOR 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.
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.”
Mangold Fondkommission AB is financial adviser and Eversheds Sutherland Advokatbyrå AB is legal adviser to SMART VALOR in connection with the Listing on Nasdaq First North as well as the Offering and Private Placements.
Mangold Fondkommission AB is acting as the Company’s Certified Adviser and can be reached on phone number +46 8 5030 1550 and email@example.com.
About SMART VALOR
SMART VALOR is a Swiss company which acts as trusted gateway to blockchain technology for investors and institutions. It operates a publicly accessible digital asset exchange, custody and asset management and offers its technology as Crypto-as-a-Service to financial institutions. SMART VALOR was one of the first crypto companies to receive financial intermediary status in Switzerland in 2018. In 2020, the Financial Market Authority of Liechtenstein gave SMART VALOR exchange and custodian authorization under the new blockchain act, one the most advanced regulatory frameworks in Europe.