(Alliance News) - Valereum PLC on Friday said that it has signed a strategic partnership with Securities Trading Technology Mauritius Ltd, in order to improve Valereum's core technology infrastructure.

Valereum is focused on tokenised digital markets as an exchange and marketplace operator, while Securities Trading Technology is a South Africa-based company, focused on the development of financial market software.

The deal is focused on developing Bridge Digital FMI, which is Valereum's blockchain-based digital financial markets infrastructure.

According to the terms, Securities Trading Technology will provide continued support and development, with a goal to commercialise the combined technologies of both firms, for future white label solutions.

STT will integrate Valereum's Bridge's Digital FMI with its core products to enhance its features and provide a unique offering to all financial market participants.

"We are very excited to be partnering with STT on completing and commercialising our Bridge Digital FMI vision. In STT we have a partner that delivers world-leading exchange infrastructure and has the capabilities and functionality to support us in developing and delivering a total solution incorporating blockchain technology to transform the way digital assets trade and settle," said Chief Executive Officer Nick Cowan.

Shares in Valereum were last traded at 4.41 pence on Aquis on Friday morning, down from 5.37p late Thursday.

By Holly Beveridge, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2024 Alliance News Ltd. All Rights Reserved.