Connect with us

Digital Securities

GSX, Prime FinTech, and Chong Sing FinTech form Hashstacs Inc.

mm

Updated

 on

GSX, Prime FinTech, and Chong Sing FinTech form Hashstacs Inc.

The Gibraltar Stock Exchange, or ‘GSX’, has recently announced a new project in their endeavour to develop blockchain within finance.  This project will be a joint venture, with the GSX working alongside Chong Sing FinTech Holdings, and Prime FinTech.

Their partnership will be known as Hashstacs Inc., and will contribute towards the development of the GSX ‘STACS’ protocol, as well as a services such as the Hashstacs Enterprise Wallet.

Hashstacs Enterprise Wallet

Oft viewed as a major issue within the world of blockchain is the current lack of custody solutions.  Although there are various forms of storage available to the everyday trader, very little exists in the way of custodial solutions for institutional players.

Recognizing this, one of the first tasks to be completed by Hashstacs Inc., will be to develop the Hashstac Enterprise Wallet.  It is intended that this wallet will be not only secure, but scalable, to support the growing needs of the industry.  The wallet will employ safety measures such as multi-sig technology.

STACS

Short for ‘Securities Trading Asset Classification Settlement, STACS, will be a main focus of Hashstacs Inc.  This protocol will eventually be a global blockchain.  It will support various functions such as the issuance of digital securities.  Furthermore, the platform will not only allow for the trading of these securities, but provide clearing and settling services as well.

GSX

The GSX has been busy in recent months.  With multiple world-renowned stock exchanges scrambling to develop their blockchain based platforms, they have no intention of being left behind.  We have reported in past weeks on other GSX developments pertaining to the world of securities.  For the GSX, the race is on.

GSX CEO, Nick Cowan commented on Hashstacs Inc..  He 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.”

Prime FinTech

Seasoned in the ways of blockchain, Prime FinTech brings their experience within the field to the team.  In past years they have successfully helped various companies delve into blockchain and distributed ledger technology.

Chong Sing FinTech Holdings

Chong Sing FinTech Holdings focuses on helping SMEs throughout Asia.  They provide assistance to these enterprises through financial services support.  This support extends to fields such as blockchain, loans, payments, and more.

 

While these three companies work together to develop their own suite of products, they indicate their intention to continue development on the GBX Digital Asset Exchange.  This, alongside the various platforms in development today, paints a bright future for the integration of blockchain and finance.

Spread the love

Joshua Stoner is a multi-faceted working professional. He has a great interest in the revolutionary 'blockchain' technology. In addition to this, he is a licenced Paramedic in Nova Scotia, Canada. As such, he can provide emergency care/medicine to any situation necessitating it.

Advertiser Disclosure: Securities.io is committed to rigorous editorial standards to provide our readers with accurate reviews and ratings. We may receive compensation when you click on links to products we reviewed.

ESMA: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Investment advice disclaimer: The information contained on this website is provided for educational purposes, and does not constitute investment advice.

Trading Risk Disclaimer: There is a very high degree of risk involved in trading securities. Trading in any type of financial product including forex, CFDs, stocks, and cryptocurrencies.

This risk is higher with Cryptocurrencies due to markets being decentralized and non-regulated. You should be aware that you may lose a significant portion of your portfolio.

Securities.io is not a registered broker, analyst, or investment advisor.