FinTech Firm Quoine Teams with Gibraltar Blockchain Exchangebr>
The GBX is a subsidiary of the Gibraltar Stock Exchange (GSX) which operates an EU regulated market, the Main Market, recognized by European Securities and Markets Authority and the UK’s HM Revenue and Customs, and the self-regulated Multilateral Trading Facility (MTF), the Global Market. The GBX plans to create a marketplace where issuers, traders, and stakeholders can participate with confidence and trust.
Quoine provides trading, exchange, and next-generation financial services powered by blockchain technology. In 2014, Quoine launched its crypto-fiat exchange Quoinex, which is now one of the largest exchanges in the world, with over US $12 billion worth of transactions in the past two years. The platform provides trading services for bitcoin and fiat currency pairs in Japanese yen, US dollar, Euro, HK dollar, Indonesian rupiah, Singapore dollar, Philippine peso, Indian rupee, Australian dollar, and China’s Renminbi.
Last month, Quoine raised $105 million in an over-subscribed initial coin offering (ICO) for its Qash token. The company said that the funds raised will be used to further develop its Liquid platform, which aims to provide access to greater liquidity for a growing customer base of cryptocurrency traders, token participants, and issuers.
Under the partnership, both companies will work to together to build a global digital asset exchange alliance and network. Quoine will be providing the technology support and robust liquidity. GBX said it plans to create a global center of excellence for FinTech companies, developing solutions through utilizing blockchain technology, and fulfilling the company’s ambitions to create a regulatory environment that will be in place in Gibraltar next year.
GBX CEO Nick Cowan said that by building a well-governed community, establishing best practices, and creating a gold standard code of conduct for token sales, the GBX aims to be the platform for the next generation of the emerging new economy.
“Our partnership with Quoine is a perfect match as we share the same principles and vision,” said Cowan. “Quoine brings in best-in-class technology and a wealth of experience in the digital asset exchanges, and GBX brings in traditional regulated exchange experience and a token listing platform that aims to revolutionise the industry.”
Quoine CEO and co-founder Mike Kayamori said that the first phase of the partnership will be the listing of the GBX Rock token sale on Quoine’s crypto-only exchange, Qryptos. In the next phase, GBX will offer the QASH token as one of the payment tokens for all fees incurred on their platform.
“We hope QASH will help bridge Gibraltar’s blockchain FinTech ecosystem and the rest of the crypto economy through our exchanges, Quoine, Qryptos, and the Liquid platform.”