Today marked a significant development in the world of digital securities, as the Gibraltar Stock Exchange (GSX) announced the immediate listing of tokenized securities on their platform.
The GSX has indicated that the following products will be supported through the use of distributed ledger technologies.
- Corporate Bonds
- Convertible Bonds
- Asset Backed Securities
- Derivative Securities
- Open-Ended Funds
- Closed-Ended Funds
This move is significant, as it marks one of the first major exchanges, globally, to bring official support for such products. The move clearly speaks to the growth and interest in such products occurring worldwide. With digital securities being noted as hot trends for 2019, this announcement comes as no surprise.
Support for these financial instruments was made possible through the STACs protocol – a product of a GSX joint-venture ‘Hashstacs’
“This is a historic moment for GSX, we have worked incredibly hard to reach this point, and we are now at the precipice of a truly transformational period for the capital markets. We now have an unparalleled opportunity for the GSX to become a frontrunner in the emerging digital securities market. We’re pioneering meaningful change, for the betterment of the global financial industry, we have come so far already, and this is only just the beginning.”
Hashstacs is a joint venture that was formed between a trio of companies in late 2018. This venture was undertaken with the goal of expediting the development of blockchain technologies necessary for future industry growth.
Upon launch, Nick Cowan stated,
“This joint venture represents a major step forward in realising the GSX Group’s vision to build a trusted global financial services group for the new digital era, facilitating more efficient scaling and deployment of solutions as we see the tokenisation of financial markets develop. I’m very excited to work alongside the esteemed teams at Chong Sing Fintech and Prime Fintech Co. Ltd. as we collectively strive for blockchain development excellence.”
In the time since its creation, Hashstacs has successfully developed a full suite of services tailored towards lifecycle management of digital securities.
Gibraltar Stock Exchange (GSX)
The Gibraltar Stock Exchange (GSX) represents the mother company of multiple subsidiaries. These include the Gibraltar Blockchain Exchange (GBX) and GSX Global Markets. As a whole, these companies comprise the GSX Group Ecosystem.
The GSX is overseen by CEO, Nick Cowan.
In Other News
The Gibraltar Stock Exchange, and their subsidiaries, are clear leaders in the world of blockchain. Over the past year, we have seen them announce various partnerships and developments. Below are a few of the times we have detailed such announcements.