A newly launched platform, GRID, looks to bring tokenization services to the masses. Built on the STACS protocol, GRID is said to, eventually, support the tokenization of equities. For now, GRID makes the tokenization of both, funds and debt instruments, a practical and accessible service.
Those behind this project are known as the Gibraltar Stock Exchange Group (GSX Group). While the GSX Group may be based in the British Territory of Gibraltar, GRID is based out of Estonia; No doubt, a decision made to take advantage of friendly regulations, as the company looks to expand services on a global scale.
While GRID has the potential to become very successful, it would not be possible without the underlying technology.
Roughly one year ago, a trio of companies partnered, with the intent of creating a purpose built blockchain network for digital securities. This subsidiary was named Hashstacs, with the blockchain created being titled STACS (Securities Trading Asset Classification Settlement).
STACS supports the issuance/clearing/settling of digital securities among various other capabilities.
Upon announcing the launch of GRID, GSX Group CEO, Nick Cowan, took the time to comment. He had the following to say,
“We have worked diligently over the past year building a unique service offering with our own technology solution for capital markets. As a venue to create and deploy securities in tokenised form, the GRID will provide the perfect venue for issuers to make the jump into what we call ‘Smart Securities’ as we push to redefine how those securities are traded, settled, and cleared using our bespoke blockchain.”
Founded in 2017, the GSX Group is based in Gibraltar. The group is comprised of various branches, meant to cumulatively act as a comprehensive solution for financial services. The following are those which make up the group.
- Gibraltar Stock Exchange (GSX)
- Global Blockchain Exchange (GBX)
- Bastion Bay
- Fort Capital Solutions
- Hashstacs Inc.
CEO, Nick Cowan, currently oversees company operations.
In Other News
While news of GRID is a definite positive, the upcoming support for digital securities, on the GBS, is key to its success. With regards to exchange support, the GBX platform may soon see tough competition, with regards to digital securities. Various companies have already launched secondary markets, supporting digital securities, or plan to in 2020. The following are a few examples of these, and the situation they find themselves in.