Blockchain-Powered Tokenized Securities Platform Launched By GSX Groupbr>
The GSX Group has launched a new platform to create and deploy ‘Smart Securities’ in tokenized form.
The GSX Group is transforming capital markets, through its integrated proprietary blockchain technology solutions and comprehensive FinTech ecosystem of companies. The aim of the GSX Group is to enhance the interoperability of traditional financial structures and generate greater adoption, towards a new-era of blockchain powered finance.
The group’s newly launched platform, called GRID, offers the technology to facilitate any ‘tokenization’ of traditional and new securities into Security Token Offerings (STO). The platform utilizes the GSX Group’s Native STACS Network, an in-house proprietary blockchain purpose-built for securities, powered by the Group’s native GATE token.
“We have worked diligently over the past year building a unique service offering with our own technology solution for capital markets,” said Nick Cowan, CEO of the GSX Group. “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.”
According to the GSX Group, the new platform will enable issuers to future-proof their business from legacy systems by gaining access to the innovative performance of blockchain, which reduces costs and execution time frames, all in a compliant and efficient manner.
“The launch of the GRID in Estonia represents a step forward in the GSX Group’s capital markets plan, as we work to usher in a new era of blockchain-powered finance that is truly global,” Cowan said. “This is the first stage of a multi-tiered approach and overarching strategy that we’re excited to start unveiling to the world. We are well on our way to delivering a true fintech solution to drive capital markets forward into a new era defined by increased efficiencies, the removal of unnecessary counterparty risk, and unprecedented access to global liquidity pools.”