KR1 KR1 Plc

 
TIDMKR1 
 
30 July 2021 
 
                                    KR1 PLC 
 
                           ("KR1" or the "Company") 
 
                             Investment: Interlay 
 
KR1 plc (KR1:AQSE), a leading digital asset investment company, is pleased to 
announce that the Company has invested a total of US$269,892 into Interlay Ltd. 
("Interlay"), in return for 1,224 Series Seed Shares in Interlay. KR1 invested 
alongside respected investors such as IOSG Ventures, who led the round, and 
others including Hypersphere, Zee Prime Ventures and CMS Holdings. 
 
Interlay is currently building out its flagship product 'interBTC', a fully 
collateralized one-to-one Bitcoin-backed asset that enables interoperability 
between multiple blockchain ecosystems while fully preserving Bitcoin's 
censorship-resistant nature. At its core, interBTC leverages the concept of 
trustless and efficient cross-chain exchanges using cryptocurrency-backed 
assets introduced in previous research published by the Interlay team. interBTC 
will launch as a parachain on Polkadot and, once launched, can be utilised on 
Ethereum, Cosmos, Kusama and other networks in a seamless way through 
Polkadot's interoperability technology. 
 
Alexei Zamyatin, CEO and Co-Founder of Interlay, commented: 
 
"We are extremely pleased to have the support of top investors from various 
ecosystems and geographic locations, who believe in our mission to bring 
Bitcoin to all major blockchains such as Polkadot, Ethereum and Cosmos. 
Together, we will accelerate the development and adoption of interBTC and allow 
people to invest, earn and pay with BTC on any blockchain in a truly trustless 
and decentralised way." 
 
Keld van Schreven, Managing Director and Co-Founder of KR1, commented: 
 
"Bitcoin continues to be the highest valued asset in the digital asset 
ecosystem by a wide margin but,  compared to other base-layer blockchains, it 
is lacking on-chain opportunities to engage in, such as decentralised finance. 
interBTC is going to unlock a new wave of innovation for Bitcoin holders across 
multiple blockchains and serves as a prime example of decentralisation working 
to provide services that anyone can use without worrying about trust." 
 
The Directors of KR1 plc accept responsibility for this announcement. 
 
                                   --ENDS-- 
 
For further information please contact: 
 
KR1 PLC 
George McDonaugh                                                    +44 (0)16 2467 6716 
Keld van Schreven 
Simon Nicol                                                                simon@KR1.io 
 
Peterhouse Capital Limited                                     (AQSE Corporate Adviser) 
Mark Anwyl                                                          +44 (0)20 7469 0930 
 
Nominis Advisory Ltd                                                       (PR Adviser) 
Angus Campbell                                                                pr@KR1.io 
 
About KR1 plc 
 
KR1 is a leading digital asset investment company supporting early-stage 
decentralised and open source blockchain and DeFi projects. Founded in 2016 and 
publicly traded in London on the Apex segment of the AQSE Growth Market (KR1: 
AQSE), KR1 has built a notable reputation for generating significant returns by 
investing in many key projects that are designed to power the decentralised 
platforms and protocols that are emerging to form new internet infrastructures. 
 
www.KR1.io 
 
Market Abuse Regulation (MAR) Disclosure 
 
This announcement contains inside information for the purposes of Article 7 of 
the Market Abuse Regulation EU 596/2014 as it forms part of retained EU law (as 
defined in the European Union (Withdrawal) Act 2018). 
 
 
 
END 
 
 

(END) Dow Jones Newswires

July 30, 2021 07:28 ET (11:28 GMT)

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