As from 21st November 2018, the GBX will operate as a fully licenced provider of Distributed Ledger Technology (DLT), regulated by the Gibraltar Financial Services Commission under Gibraltar’s Financial Services Regulations 2018 DLT framework.
This represents a significant milestone, not only for the GBX, but for crypto and exchanges worldwide. It is a significant move towards a more secure and regulated future for the blockchain industry, with the GBX at the forefront, leading the way in a bid to continually raise standards in crypto.
Drawing on the knowledge, experience, and expertise of the Gibraltar Stock Exchange (GSX), an EU-regulated stock exchange, the GBX offers users an institutional-grade token sale platform and digital asset exchange, built on the best practices and highest industry standards, gained from its parent company, the GSX. This represents the first stock exchange to own and operate a regulated blockchain exchange. The news of the licence award makes the Gibraltar Stock Exchange the first regulated stock exchange group to also own and run a regulated blockchain exchange. It is a ‘world first’ of huge significance.
Nick Cowan, CEO of the Gibraltar Blockchain Exchange said: “Securing authorisation as a DLT provider here in Gibraltar is affirmation of our tireless efforts to position the GBX among the premiere Digital Asset Exchanges globally. Today’s announcement renews our ambition to create a world-leading, institutional-grade token sale platform and Digital Asset Exchange. We’re incredibly excited to build on this wave of momentum following our full-scale public launch in August.”
Attaining a full DLT licence caps a significant phase of sustained progress for the GBX, which includes the full-scale public launch of the token sale platform (GBX-GRID) in April 2018, and the subsequent launch of the secondary market platform, the Digital Asset Exchange (GBX-DAX) in July.
The GBX-DAX offers users unique features, currently including USD fiat onboarding as well as multiple USD trading pairs. In the near future, there are also plans to offer a greater number of fiat currency onboarding options, as well as a more extensive list of trading pairs. As a DLT licence-holder, the GBX is now in a stronger position than ever before as a blockchain exchange. This landmark announcement will doubtless provide an even greater springboard for future developments across the GSX-GBX ecosystem.