Gibraltar Blockchain Exchange Announces Official Launch

Announcements, Blockchain, News | July 24, 2018 By:

The Gibraltar Blockchain Exchange (GBX) has announced that its platform is now officially open to members of the public.

GBX is a subsidiary of the Gibraltar Stock Exchange (GSX), which operates a European Union regulated market, the Main Market, and the self-regulated Multilateral Trading Facility (MTF), the Global Market. GBX is offering a marketplace where issuers, traders, and stakeholders can participate. It aims to position itself as a world-leading institutional-grade token sale platform and Digital Asset Exchange.

The platform is now accessible to members of the public who have undergone a standardized know your customer (KYC) process and incorporates fiat onboarding. Currently, three USD pairs are available for customers, with USD onboarding available for BTC, ETH and RKT. The company is planning to incorporate more fiat currencies going forward.

“The launch comes at a time when the cryptocurrency and token markets are reaching a new stage of maturity,” said Nick Cowan, CEO of the Gibraltar Blockchain Exchange. “In 2018 alone, Initial Coin Offerings (ICOs) have raised a combined total of $13.7 billion USD 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 Digital Asset Exchange currently hosts a total of 6 tokens, including BTC, ETH, BCH, ETC, LTC, and RKT, which have a combined market capitalization of over $170 billion. ICO issuers that have completed their token sale on the GBX GRID, the company’s token sale platform, will be able to list their tokens on the Digital Asset Exchange. The exchange will also be open to other ICO tokens that have not come through the GBX GRID.

“We have made concerted efforts to ensure that upon our public launch the GBX would host a number of leading cryptocurrencies and tokens to ensure utility for the trading community,” Cowan said. “We are already looking forward to making significant additions to this offering in the future as we continue to make sustained progress in offering users the most comprehensive trading options possible.”

The GBX-generated Rock Token (RKT) will serve as the primary medium of exchange for all trading on the GBX platform. 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 platform. RKT holders will also receive early access to token sales hosted on the GBX GRID and reduced trading fees on the Digital Asset Exchange.

“We are also rolling out a number of initiatives designed to facilitate and encourage greater uptake,” Cowan said. “Later this month, for example, we will launch the GBX ‘Exclusive Trading Competition’, that will include a total prize pool of 1 million RKT. Meanwhile, new users that register before the 17th of August will benefit from zero trading fees until the 14th of September.”