Gibraltar Blockchain Exchange announces official public launch

The move is pitched as a significant step not only for the exchange, but also for the UK blockchain ecosystem as a whole, given that Gibraltar was the first British jurisdiction to introduce regulations around distributed ledger technology.

Following a soft launch involving 300 participants, the Gibraltar Blockchain Exchange (GBX) is now open to members of the public. It will feature fiat onboarding for customers, as well as a number of trading pairs, which it is set to expand in the future.

“Today marks the most exciting development on the GBX journey thus far and is a significant indication that Gibraltar is open for business,” says says Nick Cowan, CEO of the Gibraltar Blockchain Exchange. “The launch comes at a time when the cryptocurrency and token markets are reaching a new stage of maturity. In 2018 alone, Initial Coin Offerings (ICOs) have raised a combined total of $13.7 billion globally – more than was raised in all ICOs which took place before 2018 combined. We are excited to enter this pivotal stage in our development at such an important time for the industry. The fact that we can launch with fiat onboarding is a huge added bonus for our community.”

The GBX platform’s Digital Asset Exchange hosts six tokens at present, including Bitcoin, Ethereum and Litecoin. Going forward, issuers that have completed their token sale on the GBX GRID will have the opportunity to list their tokens on the Digital Asset Exchange. This opportunity will also be open to other token issuers that have not come through the GBX GRID.

The primary medium of exchange for trades on the platform will be the GBX-generated Rock Token (RKT). RKT are ERC-20 compliant utility tokens and can be used to pay trading fees; listing and sponsor fees; and for issuer staking on the GBX. They will also grant holders early access to token sales hosted on the GBX GRID and reduced trading fees on the Digital Asset Exchange.

Game changing Gibraltar

“The official launch is the result of not only the hard work of an extraordinary team, but also the dedication of our wonderful community, who share our passion for blockchain technology and our vision of a mature crypto market. We are proud to be opening our exchange to the public so that more people may join us on our journey, working toward a new era of trust, openness, and global acceptance for the crypto industry,” says Cowan.

“I believe Gibraltar and we here at the GBX offer something genuinely different. Gibraltar was the first jurisdiction to introduce regulations around distributed ledger technology, and we are reaping the rewards of that today.”


Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.

Previous Article

Revamped BofE RTGS will be DLT friendly

Next Article

US trader fined £1.4m for Bitcoin fraud scheme

Read More Related articles