Launch of ByBrix
13/07/2022 07:00
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RNS Number : 2463S AQRU plc 13 July 2022
This announcement contains information which, prior to its disclosure, was
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13 July 2022
AQRU PLC
("AQRU" or "the Company")
Launch of ByBrix
AQRU plc (AQSE: AQRU), an incubator specialising in decentralised finance
("DeFi"), is pleased to announce that it has partnered with Blimp Technologies
Inc. ("Blimp Homes") to launch a start-up branded "ByBrix", to pursue
opportunities in the underserved crypto-mortgage market.
With more than 147,000 cryptocurrency wallets containing $300,000 or more
worth of Bitcoin, controlling a total of $500 billion in value, AQRU and Blimp
Homes believe there to be a large addressable market for cryptocurrency-backed
mortgages (Source: Glassnode).
ByBrix has an impressive senior leadership team made up of cryptocurrency and
real estate professionals, led by CEO, Troy Huerta. Mr Huerta has significant
expertise in business development and brand building, with more than 30 years'
experience in the real estate sector. He was previously Vice President of
Business Development at Blimp Homes, and prior to that CEO and President of
SRE Mortgage Alliance Inc., a mortgage bank, and Executive Vice President of
SRE Technologies, a technology-based real estate brokerage.
ByBrix will join AQRU's roster of portfolio businesses and AQRU will use its
operational skills and experience in FinTech and decentralised finance to
support ByBrix's growth and help it position itself as a leader in the
crypto-backed mortgage sector.
ByBrix will also draw from Blimp Homes' expertise in embedding blockchain
technology in the real estate market. Blimp Homes, currently in AQRU's
portfolio, is a home search and transaction collaboration platform that
rewards users for browsing homes and connects homebuyers, sellers, and real
estate professionals to communicate on all aspects of real estate
transactions.
Philip Blows, CEO of AQRU, commented: "With the launch of ByBrix, we are
bridging the gap between decentralised and traditional finance by enabling
people to use their cryptocurrency to purchase property. We are thrilled to be
developing offerings that not only enable investors to take advantage of all
the opportunities available in decentralised finance, but that can also
strengthen our presence in the DeFi sector and deliver long-term value for our
shareholders."
Matt Shaw, CEO of Blimp Homes, commented: "The home-buying process has become
increasingly expensive and difficult, and there is desperate need for
innovation in the space. By launching ByBrix in partnership with AQRU, we are
combining our expertise in real estate and blockchain technology with AQRU's
significant experience in FinTech and decentralised finance to offer a
feasible solution to people who want to buy property using their
cryptocurrency. We are delighted to be taking this important step in our
mission to democratise and streamline the real estate market and look forward
to seeing ByBrix grow."
The Directors of AQRU plc take responsibility for this announcement.
For further information, please contact:
AQRU
Philip Blows via Tancredi +44 207 887 7633
Chief Executive
First Sentinel
Corporate Adviser +44 7876 888 011
Brian Stockbridge
Tennyson Securities
Corporate Broker +44 207 186 9030
Peter Krens
Tancredi Intelligent Communication
Media Relations
Gabriela Amaya Garcia +44 7915 035 294
Charlie Hobbs +44 7897 557 112
aqru@tancredigroup.com (mailto:aqru@tancredigroup.com)
About AQRU PLC:
AQRU 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.aqruplc.com
(http://www.aqruplc.com)
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