31 July, 2018
Eight months after the Gibraltar Stock Exchange first announced its plans to open a digital asset exchange, the UK territory of Gibraltar officially launched the Gibraltar Blockchain Exchange (GBX) on July 23.
The GBX offers some major cryptocurrencies for trading: Bitcoin, Ethereum, Litecoin, Bitcoin Cash, Ethereum Classic, and its own Rock Token, with the ability to onboard using U.S. dollars. “Today marks the most exciting development on the GBX journey thus far and is a significant indication that Gibraltar is open for business. The launch comes at a time when the cryptocurrency and token markets are reaching a new stage of maturity,” said GBX CEO Nick Cowan.
As many who are interested in trading cryptocurrencies find it hard to break into the market because they aren’t sure where to turn or how to get started, the launch of GBX can help by offering a trusted and nationally regulated platform for investing.
GBX offered 300 investors access to a soft launch on June 4, six weeks prior to going public. The exchange used the information and feedback it received from participants during the soft launch to enhance both user interface and user experience before becoming available to the general public.
“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. 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,” said Cowan.
GBX plans to launch an official mobile application in the near future as well.
The GBX Grid, the token sale platform used by the exchange, is reserved for projects that have been vetted thoroughly and are supported by at least one of 15 sponsor firms. The Grid has already completed its first token sale. In effect, the Grid means users can receive support from the initial token sale process through to the secondary market. In addition to the first token sale, the Grid currently has three more projects in the works.
As described in a Medium article, the GBX is “centered on the solid foundations of Gibraltar’s emerging regulations [and] seeks to become the world’s first nationally regulated digital asset marketplace and ecosystem, building towards a new era of certainty and stability for the world of blockchain technology.” This is undoubtedly a positive development for anyone interested in the global blockchain and crypto space.