Valereum Reports Quorium Global Photonics Stablecoin Launch on XRP Ledger

Valereum PLC has announced that Quorium Global Photonics has successfully launched a stablecoin on Ripple’s XRP Ledger, representing a significant milestone in the progression of the companies’ proposed transaction. The VXRUP stablecoin has been designated as the primary liquidity vehicle for QGP’s ecosystem.

QGP informed Valereum that the issuance establishes the foundation of its liquidity framework and advances the execution of Valereum’s digital asset strategy. The development marks a tangible progression in the relationship between the two entities.

Valereum continues to maintain its holding of 20,000 QMTN2601001 medium-term-note tokens pursuant to 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. The company has emphasised that token valuations remain inherently uncertain, reflecting the volatile nature of digital asset markets.

Chair James Bannon stated that the parties have reached the final stages of a project that has been under development for three years. Chief executive Gary Cottle acknowledged that the completion timeline has extended beyond initial expectations. QGP has confirmed that its infrastructure is now operational and that the pathway to liquidity has been established.

The launch of the stablecoin on the XRP Ledger represents a concrete step towards realising the strategic objectives outlined in the companies’ initial agreement. The use of Ripple’s blockchain infrastructure provides a recognised framework for the digital asset operations.

Valereum shares trade on the Aquis Stock Exchange under the ticker VLRM, with additional listings on the OTCQB market and the Frankfurt Stock Exchange. The company has maintained transparency regarding the uncertain nature of digital asset valuations whilst progressing its strategic initiatives in the sector.