First on the Docket
GRID, a product of the GSX Group, is a promising new platform built on the STACS protocol. The team at GSX Group has now announced the first successful tokenization of a company’s shares on the GRID platform – tribeOS.
This tokenization represents the first of its kind on the GRID platform. Beyond tokenizing equity shares in a company, GRID also has the capability to do the same with both, funds and debt, instruments.
Upon announcing the listing of tribeOS tokenized shares, representatives from each company took the time to comment.
Matt Gallant, CEO of tribeOS, stated,
“Using the GRID to create and deploy our shares in digital form allows for a quick and cost-effective route into the digital space. The tribeOS and GSX Group teams share a vision and ethos in promoting the many use cases that blockchain provides and driving greater adoption levels globally. We look forward to working with the GSX to achieve this collective goal…Our ambition is to deliver dynamic cost-saving solutions, broaden the accessibility of capital, and help issuers in terms of speed-to-market. We are working with other companies who intend to use the GRID to enter into the fast-developing world of digital securities. I’d like to thank tribeOS for putting their trust in us and the GRID. This is just the first step on the road to mainstream adoption.”
Nick Cowan, CEO of GSX Group, stated,
“We are excited to have completed the successful digitalization of tribeOS’s shares. tribeOS is the first issuer to utilize our GRID venue, and we look forward to welcoming further pioneering companies who wish to push the boundaries of innovation and accelerate the adoption of blockchain within the capital markets.”
News of the tribeOS listing comes mere weeks after GRID was first launched. At the time of launch, GSX CEO, Nick Cowan, stated,
“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.”
At the time of launch, we took a look at what GRID is, and the protocol fueling the platform behind the scenes.
While the tokenization discussed is a testament to the viability of what GSX has built, it would not be possible without tribeOS having previously hosted a successful DSO. This event, which was held out of Bermuda, notably saw participation from crypto-giant, Bitmain.
We previously covered this event in a series of articles, looking at the company’s regulatory approval, and details of the offering.
Founded in 2017, tribeOS maintains headquarters in Texas, United States. Above all, tribeOS develops solutions meant to eliminate fraud in advertising.
CEO, Matt Gallant, currently oversees company operations.