AQRU plc - Launch of ByBrix
RNS Number : 2463S
AQRU plc
13 July 2022
 

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). Upon the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.

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

Chief Executive

via Tancredi +44 207 887 7633

 

First Sentinel

 

Corporate Adviser

Brian Stockbridge

+44 7876 888 011

Tennyson Securities

 

Corporate Broker

Peter Krens

+44 207 186 9030

Tancredi Intelligent Communication

Media Relations


Gabriela Amaya Garcia

Charlie Hobbs

aqru@tancredigroup.com

+44 7915 035 294

+44 7897 557 112

 

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

 

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