Blockchain-Based Digital Stock Exchange Prototype Deployed By Gibraltar Stock Exchange

Announcements, Blockchain, News | March 6, 2019 By:

The Gibraltar Stock Exchange (GSX) has deployed a digital stock exchange prototype on a new blockchain protocol.

The prototype was announced after the GSX deployed a demonstration bond issuance utilizing the Securities Trading Asset Classification Settlement (STACS) Network, a public/permissioned hybrid global blockchain that supports the issuance, trading, clearing and settling of digital securities.

According to the GSX, the prototype has the capacity to launch the bond, track selling reports, enforce selling and eligibility restrictions, and distribute repayment dividends using smart contracts.

“Our vision at GSX has been to revolutionize the current capital markets model by enabling the listing and trading of digital securities,” said Nick Cowan, CEO of the Gibraltar Stock Exchange and founder of GSX Group. “This is the next significant step in a new paradigm for global finance — opening up new liquidity pools and products. The successful demo bond issuance on STACS brings us closer to achieving our goal, as one of the first movers in this nascent technology.”

The GSX will be using the STACS Network to be part of a global undertaking to bring about a new era in blockchain powered finance. The protocol will reportedly provide a robust infrastructure where issuers could issue security tokens in the jurisdiction of their choice.

“The GSX will continue to push the boundaries and advocate for greater adoption, so together we can direct the future of capital markets,” said Cowan.