OTC Markets Group Inc.(OTCQX: OTCM), an operator of financial markets for ten thousand U.S. and global securities, announced on Wednesday it has added blockchain accelerator, Victory Square Technologies, to OTCQX. Victory Square Technologies was notably upgraded to OTCQX from the Pink market and begins trading on OTCQX under the symbol VSQTF.
Founded in 2012, Victory Square Technologies is described as a blockchain-focused venture builder that funds and empowers entrepreneurs to implement blockchain solutions. The accelerator’s portfolio includes companies in various sectors, including Virtual Reality, Artificial Intelligence, Personalized Health, and Gaming and Film. Speaking about adding Victory Square Technologies to the OTCQX, Jason Paltrowitz, Executive Vice President of OTC Markets Group, stated:
“We are pleased to welcome Victory Square Technologies, a member of the CSE25 index of the largest CSE-listed companies, to the OTCQX Best Market.”
Shafin Diamond Tejani, Chief Executive Officer of Victory Square Technologies, added:
“Without question, this is a positive move for Victory Square and our portfolio companies operating in Canada, the US and other global markets. We look forward to plugging into the OTCQX network and continuing to make a difference and add value for our shareholders.”
The addition of Victory Square Technologies to OTCQX comes just a couple months after OTC Markets published a study on the benefits of QTCQX listing for international companies. As previously reported, According to OTC, there are currently over 400 securities from 27 countries traded on OTCQX – including names like Heineken and Adidas. The report revealed:
- US ownership increased 7-fold after joining OTCQX.
- Trading volume by number of shares increased 28% within the home market.
- Trading volume by number of shares increased 37% within the OTC market.
- Trading volume of firms falling into the lower half of the distribution by size increased 43%.
- Trading volume of firms falling into the upper half of the distribution by size increased 12%.
- There were positive liquidity reactions for companies from Canada, Asia Pacific & Europe.
- 1.5% of value was created within the home market.