Dispersion Holdings - Launch of AQRU Platform
01/12/2021 06:59
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RNS Number : 1024U Dispersion Holdings PLC 01 December 2021
Press Release
1 December 2021
Dispersion Holdings PLC
("Dispersion" or "The Company")
Launch of AQRU Platform
Dispersion (AQSE: DEFI), an incubator specialising in decentralised finance
("DeFi"), is pleased to announce today's launch of AQRU, an innovative
platform which enables simple access to the competitive crypto yields
available in DeFi.
AQRU is a consumer-facing platform that opens up the DeFi markets to the
everyday investor. The platform, which will also be open to institutional
investors, offers the trading of major cryptocurrencies Bitcoin (BTC) and
Ether (ETH) as well as three USD-pegged digital assets (USDT, USDC and DAI).
It makes the conversion of fiat to cryptocurrency simple and understandable
while also paying market-leading yields of up to 12% on held assets. The AQRU
platform's wallet infrastructure is secured by Fireblocks, the industry leader
in digital asset security.
AQRU was developed by Accru Finance Ltd, which was purchased by Dispersion in
October 2021, for a consideration of £8.75 million by way of the issue of 250
million shares in the Company. This was Dispersion Holdings' biggest
investment since its IPO and is aimed at providing Dispersion with a
significant exposure to the rapidly developing market for yield farming from
digital assets.
AQRU will operate as a retail DeFi arm of the Company. Returns generated on
cryptocurrency remain high, as market participants are willing to pay high
levels of interest to borrow assets they struggle to access by traditional
means.
The AQRU online platform has been launched to provide investors with a
one-stop facility to hold, trade as well as generate attractive yields from
their digital assets by lending these out through AQRU's fully insured
facility.
The service has been launched to a global audience, with some regulatory
exclusions, and offers a yield-generating service for Bitcoin, Ethereum and US
Dollar Stablecoin. No services will be offered in any territory where it
would be unlawful to do so. The platform will not be open to UK based
investors until approval from the Financial Conduct Authority (FCA) to operate
in the UK has been granted. An anti-money laundering registration was filed
with the FCA in April and an application with the Central Bank of Ireland is
underway to further expand AQRU's regulatory footprint.
Philip Blows, Chief Executive, commented: "We are delighted to launch our AQRU
platform, which allows consumers to benefit from the trading and yield farming
of cryptocurrencies. We believe there is strong global demand for a simple to
use and transparent service that enables investors to generate additional
returns from their cryptocurrency assets.
"With nothing more than a smartphone, users will have access to the
decentralised markets with none of the complexity and expense that has been
the case until now. We are thrilled to streamline and democratise finance by
providing a service that will be at the cutting edge of the DeFi revolution."
This announcement contains information which, prior to its disclosure, was
inside information as stipulated under Regulation 11 of the Market Abuse
(Amendment) (EU Exit) Regulations 2019/310 (as amended).
The directors of Dispersion Holdings plc accept responsibility for this
announcement.
For further information please contact:
Dispersion Holdings
Philip Blows via Tancredi +44 207 887 7633
Chief Executive
Neil Thapar +44 7876 455 323
Investor Relations
Tennyson Securities
Corporate Broker
Peter Krens +44 207 186 9030
Novum Securities
AQSE Corporate Adviser +44 207 399 9400
David Coffman / Lucy Bowden
Broker
Colin Rowbury / Jon Belliss
Tancredi Intelligent Communication
Media Relations
Edward Daly +44 7861 430 057
Charlie Hobbs +44 7897 557 112
dispersion@tancredigroup.com (mailto:dispersion@tancredigroup.com)
About Dispersion Holdings PLC:
Dispersion Holdings is an incubator specialising in opportunities in
decentralised finance (DeFi), a disruptive technology using blockchain and
cryptocurrencies to remove financial intermediaries from transactions,
creating a cheaper, more efficient and more secure way of providing financial
services. Listed on the Aquis Exchange in London, we apply our expertise to
the business operations and strategic plans of FinTech companies in the UK,
USA and Canada, and act as an accelerator for start-ups and early-stage
companies. www.dispersionholdings.com (http://www.dispersionholdings.com)
Notes to Editors:
Yield farming: Also known as liquidity mining, yield farming is the process of
staking cryptocurrency assets into unique smart contracts/DeFi protocols with
the goal of earning interest yield on the deposited asset, as well as "mining"
reward tokens, often referred to as governance tokens. These smart contracts,
sometimes referred to as liquidity pools, lend or provide the necessary
liquidity to facilitate DeFi applications, like decentralized exchanges, and
in turn receive a percentage of the fees, as well as incentive rewards. Yield
is most commonly generated through lending and automated market making.
Staking: Most often refers to the process of validating transactions through
Proof-Of-Stake mining (POS) on POS blockchains. POS mining typically involves
locking funds in a smart contract or node to receive staking rewards for
supporting the security and operations of a blockchain network.
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