The Gibraltar Stock Exchange is launching listings of blockchain-powered securities on its practical listing venue GSX Global Market, the firm announced on April 9.
Today, the GSX starts listing a number of new products known as digital, smart or tokenized securities such as corporate bonds, convertible bonds, asset-backed securities, derivative securities, open-ended funds and closed-ended funds, the announcement says.
By applying distributed ledger technology, the GSX intends to enable greater liquidity pools and facilitate democratizing the capital markets, the firm noted in the press release.
In contrast to the GSX Main Market, GSX Global Market provides a lighter reporting scheme and disclosure framework, which will purportedly enable issuers with reduced timelines and listing costs.
As a recognized stock exchange regulated in the European Economic Area, GSX Global Market does not require debt issuers with securities listed on the market to withhold tax on coupons under British law, as the press release notes.
The new listings come on the heels of the partnership of an integrated tokenized securities exchange product by GSX Group's subsidiary Hashtacs and STO Global-X on April 5.
The project enables stock exchanges and other qualified financial institutions to tokenize assets and boost the trading, clearing and settling of digital securities.
In March 2019, the GSX successfully deployed a GSX Digital Stock Exchange Prototype on the Securities Trading Asset Classification Settlement blockchain, and issued a demo bond on its basis.
Developed along with Singapore-based blockchain firm Hashstacs, the STACS-enabled project enables listings of digital representations of funds and debts on blockchain.
Gibraltar Stock Exchange Launches Listings of Blockchain-Based Securities
Published on Apr 9, 2019
by Cointele | Published on Coinage
Coinage
Recent News
View All
Blockchain Bites: Bitcoin's Run, Uniswap's Hemorrhaging Value, Anchorage's Banking Bid
Bitcoin is nearing all-time highs in price and market cap last set three years ago.
Japan's megabanks to lead experiment with digital yen
We have, in order, Cheese Bank with a $3.3 million theft, Akropolis with its $2 million loss, Value DeFi with a whopping $6 million exploit and finally Origin Protocol's loss of $7 million.
Number of new Bitcoin addresses spikes amid growing FOMO
Japan's three largest banks, as part of a group of 30 private sector actors, are set to collaborate on an experiment with a digital yen.
Not just Wall Street: Quant trader explains why Bitcoin price is going up
Sam Trabucco, a quantitative trader at Alameda Research, believes four general factors are pushing up the price of Bitcoin.